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Nigeria's indebtedness to World Bank rises to $13.9 billion

Key highlights Nigeria's total indebtedness to the World Bank rose to $13.9 billion as of December 2022, an increase of ....

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Uwaleke: Adopt Whistle-blowing, TSA to Boost States' IGR

Ndubuisi Francis in Abuja
A former Commissioner for Finance in Imo State, Prof. Uche Uwaleke has advised states across the country to adopt whistle blowing, treasury single account (TSA) and International Public Sector Accounting Standards (IPSAS) mechanisms, among others to plug leakages in their internally generated revenue (IGR) pool.
Uwaleke lamented that most state governments have not been able to generate revenue sufficient to cater to recurrent spending let alone capital expenditure, noting that in 2019, for example, states’ IGR represented just about 21 per cent of total revenue with the bulk of nearly 60 per cent coming from the Federation Account Allocation Committee (FAAC) distribution. ....

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Nigeria: World Bank Approves $1.5bn for States' Social Protection, Covid-19 Response

Nigeria: World Bank Approves $1.5bn for States Social Protection, Covid-19 Response
15 December 2020
By Obinna Chima
The World Bank Group has approved a $1.5 billion package to help build a resilient recovery post-COVID-19 for state-level intervention in Nigeria.
In addition, the multilateral institution discussed a new five-year Country Partnership Framework (CPF) from 2021 to 2024 for Nigeria.
The $1.5 billion was part of a $3 billion loan request the federal government had been pushing for.
A statement from the bank reiterated that Nigeria was at a critical juncture, adding that with the sharp fall in oil prices as a result of COVID-19, the economy was projected to contract by over four per cent in 2020. This, it anticipated would plunge the country into its deepest recession since the 1980s. ....

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Nigeria: World Bank Approves $1.5bn Loan for States' Covid-19 Response

Nigeria: World Bank Approves $1.5bn Loan for States' Covid-19 Response
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

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W'Bank Approves $1.5bn Loan for States' COVID-19 Response

Obinna Chima
The World Bank Group has approved a $1.5 billion package to help build a resilient recovery post-COVID-19 for state-level intervention in Nigeria.
In addition, the multilateral institution discussed a new five-year Country Partnership Framework (CPF) from 2021 to 2024 for Nigeria.
The $1.5 billion was part of a $3 billion loan request the federal government had been pushing for.
A statement from the bank yesterday reiterated that Nigeria was at a critical juncture, adding that with the sharp fall in oil prices as a result of COVID-19, the economy was projected to contract by over four per cent in 2020.
This, it anticipated, would plunge the country into its deepest recession since the 1980s. ....

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