Project Funding: World Bank Pledges $8.5BN To Nigeria

The World Bank has committed $8.5 billion to Nigeria to fund critical issues ranging from agriculture to education.

 

The World Bank Country Director to Nigeria, Shubham Chaudhuri, disclosed that the amount was the largest of any country.

He also noted that it was still infinitesimal compared with the needs of Nigeria, stressing, however, that around $2.5 billion to $3 billion of the fund had been channeled towards education.

In addition, Chaudhuri said that the future of Nigeria depended on the ability of the young people to go to school, stressing that it was important to make schools safe to ensure that fewer children were out of school.

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He further said it was Nigeria’s call to determine how it would mobilize its financial resources to enable young Nigerians to go to school or whether its scarce resources would be used to subsidize petrol with over N6.5 trillion

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