The World Bank has announced a substantial financial commitment of over $16 billion directed towards 28 active projects across Nigeria. This funding primarily comes from concessional financing sources, including the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD).
In a statement released yesterday, the World Bank emphasized that these investments aim to address some of Nigeria's most critical development challenges. Key focus areas include expanding access to vital services such as electricity, education, and healthcare, promoting gender equality and economic opportunities for women, and enhancing food security through improved agricultural productivity.
In a bid to strengthen its collaboration with Nigeria, the World Bank’s Regional Vice President for Western and Central Africa, Mr. Ousmane Diagana, is set to visit the country from April 14 to 17, 2025. His visit will center on discussions surrounding Nigeria's economic recovery, job creation, and investments in human capital.
During his stay, Diagana plans to meet with Vice President Kashim Shettima at the Presidential Villa to evaluate the strategic partnership between Nigeria and the World Bank, as well as to identify further avenues for collaboration. His agenda also includes consultations with several key cabinet members, such as the Ministers of Finance, Budget and Economic Planning, Power, Humanitarian Affairs, Health, and Communications and Digital Economy.
A primary focus of these discussions will be the financing of Nigeria’s energy sector. Diagana is expected to lead a roundtable with key stakeholders aimed at enhancing financial investment in the power sector and attracting private sector participation.
Reliable and affordable electricity is a pressing issue in Nigeria, posing challenges for industrialization, job creation, and effective service delivery. In addition to meetings in Abuja, Diagana will visit Kaduna, where he will meet with Governor Uba Sani at the Kashim Ibrahim Government House.
While in Kaduna, Diagana will review World Bank-funded project sites to assess progress and engage with local communities and beneficiaries of these initiatives.
0 Comments