International Finance Corporation
World Bank approves $1.5b loan to aid Nigeria’s forex liquidity position
The World Bank, yesterday, enhanced Nigeria’s foreign exchange liquidity position with the approval of the Covid-19 Budget Support credit promised during the Spring Meetings in America earlier in the year.
World Bank approves $1.5bn COVID-19 recovery, stimulus for Nigeria
World Bank Group has approved a 1.5 billion dollars package to help build a resilient recovery post-COVID-19 in Nigeria.
Insurers, IFC and push for multi-billion naira agric cover
Agriculture in Nigeria is a critical aspect of the nation’s economy, providing direct employment for about 30 per cent of the population, while the sector contributes about 24 per cent to the Gross Domestic Product, according to the Nigerian Bureau of Statistics. But climate change is threatening this important industry, as its direct effects include…
Civil society groups, labour urge Sanwo-Olu not to privatise Adiyan, Igbonla water works
Civil society bodies, labour, and grassroots groups have urged the governor of Lagos State, Mr. Babajide Sanwolu to halt alleged plans to privatize the Adiyan II and Igbonla Water Works.
‘How World Banks’ green building certification can benefit Nigerian investors’
Investors in housing sector have been charged to introduce and implement a greener development path that ensures resource-efficient construction and practices. According to experts, green construction offers a chance to secure emission cuts at a low cost and lock in energy and water savings for decades to come. Nigeria currently ranks as the 15th most…
FG mulls new incentives to attract local, foreign capital
Efforts to attract both local and foreign capital into the country may get added boost, as the federal government has assured that it is providing enough policy incentives this year. The Minister for Finance, Zainab Ahmed, who disclosed this at the First Bank anniversary lecture, in Lagos on Tuesday, expressed worry on the level of…
CBN’s collateral registry generates N1.2 trillion loans in two years
Central Bank of Nigeria (CBN)’s National Collateral Registry (NCR) has generated N1.264 trillion credit to the micro, small and medium enterprises (MSMEs) and individuals in the nation’s economy within two years, its Registrar, Mohammed Mainasara, has said. The NCR, a creation of the apex bank’s Development Finance Department in collaboration with the International Finance Corporation (IFC) commenced operation in 2017 following…
Africa Re, IFC seal pact on farmers’ access to agric insurance initiative
Africa Reinsurance Corporation has signed an agreement with the International Finance Corporation (IFC), a member of the World Bank Group, to help underwriting companies in Nigeria develop innovative agricultural insurance products for farmers, against hazards in their farming process.
Otunba Subomi Balogun at 85
Those who argue that there can be no greater treasure in life than the early understanding of purpose and its diligent pursuit have a point. In it, is the wisdom of according a pride of place to the Almighty in all of one’s affairs – the doors of limitless possibilities just seem to remain eternally…
Experts canvass sustainable foreign capital inflow
Experts at the one-day conference organised by the Nigerian Stock Exchange (NSE) in Lagos have argued that Nigeria needs to adopt a holistic strategy that would unlock rapid development of transport infrastructure in Nigeria.
InfraCredit, development partners set to unlock long-term funds for infrastructure
According to NIIMP projection (2014-2018), an investment of $127 billion is required over the next five years (“the 1st Operational Plan Period”) translating to an average of $25 billion per annually.