World Bank Group’s interim president, Kristalina Georgieva has said it would more than double its commitment to climate adaptation and mitigation in Africa over the next five years to $22.5 billion. He said in an emailed statement to Bloomberg that “This region is particularly vulnerable to increasing floods, droughts and destructive storms. We have to […]
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BUSINESSDAY Why FMBN could disbursed only N193.4bn for mortgages in 41years BD INVESTIGATIVE SERIES: Mobile money is no rocket science, Ghana shows Nigeria Teleology Holdings withdraws from 9mobile project Landlords to struggle as market expects 40,000sqm office space in 2019 Stakeholders worried over uncertainty around PIB Why FG’s N8.83 trn budget is unrealistic, says NECA […]
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Rotimi Amaechi, minister of transportation and former governor of Rivers state, made false claims about Nigeria generating 7,000MW of electricity under President Muhammadu Buhari, TheCable can confirm. In an interview with Osasu Igbinedion, after the launch of the Kaduna-Abuja railway line, Amaechi said Nigeria was generating 7,000MW of electricity before the resumption of militant activities […]
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The Managing Director of International Monetary Fund (IMF) Christine Legarde says the state of Nigeria’s economy is critical and requires proactive monetary, fiscal and structural policies to put it on the path of growth. The IMF position during a media conference at the IMF WD spring meetings attracted the reaction of Nigeria’s Minister of Finance […]
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About 20,000 people have been killed since the start of the Boko Haram insurgency in Borno State, according to a report from the World Bank that also put the cost of destruction at $5.9 billion. The report laid bare the extent of the damage since the insurgency began in 2009 and which at one point […]
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A coalition of Non Governmental Organisations (NGOs), in Delta state has petitioned the World Bank and other relevant authorities to the intention of the Governor Ifeanyi Okowa-led administration to secure a loan of N500 million from the World Bank as part of the state’s counterpart funding of ecological programmes of the World Bank in the […]
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With about $21 billion sent home by Nigerians in diaspora in 2015, the country is the sixth largest receiver of remittances in the world, the Migration of Remittance Factbook 2016 has shown. The country is also by far the largest receiver of remittances in sub-Saharan Africa, receiving a total of $34.8 billion this year. The […]
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IN what may be a veiled reaction to the litany of criticisms trailing his economic team as a lacklustre one, former President Goodluck Jonathan yesterday declared that two members of his team found competent on appointment to lead two globally-renowned financial institutions is a confirmation that he had a good team. Jonathan’s assertion is contained […]
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The world’s “disastrously inadequate response” to West Africa’s Ebola outbreak means many people are dying needlessly, the head of the World Bank said on Monday, as Nigeria confirmed another case of the virus. In a newspaper editorial, World Bank President Jim Yong Kim said Western healthcare facilities would easily be able to contain the disease, […]
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