We’ve invested $8.5b in Nigeria, says World Bank


The World Bank Group says it has an investment portfolio of about 8.5 billion dollars scattered across states and regions in Nigeria to support inclusive economic development and youth empowerment.

Mrs Olufunke Olufon, the Senior Communications Officer, World Bank Nigeria, made this known

in a statement on Sunday in Abuja.

She stated that the investments were to assist the 36 states of the federation and the Federal Capital Territory to reduce poverty and foster prosperity for all Nigerians.

She noted that the explanation followed concerns raised by Nigerians over the comment by World Bank President, Mr Jim Yong Kim that President Muhammadu Buhari asked the bank to shift its intervention focus to North Eastern states.

She said that the bank was also working with federal and state governments, as well as

development partners on speedy delivery of critical interventions to people of the North East who urgently needed assistance.

She added that “in 2015, the Government of Nigeria requested World Bank support to respond to the humanitarian and development crisis in the North East of Nigeria.

“To assess the needs of the nearly 15 million people in the region impacted by the crisis, the World Bank Group, the UN and European Union carried out a Recovery and Peace Building Assessment (RPBA).

“And based on the findings of the assessment, World Bank’s 775 million dollars support to the North East focuses on restoring basic education, health services, agricultural production, and livelihood improvement opportunities.”

Olufon noted that the World Bank Group was doubling its resources to address fragility, conflict and violence at the subnational and national levels and help to stabilise places that were affected by high poverty and influx of people.

Like it? Share with your friends!

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Upload your own images to make custom memes
Youtube, Vimeo or Vine Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format