Business
World Bank Okays STEP-B Projects Implementation
The World Bank has expressed satisfaction with the level of implementation of the 180 million dollars Science and Technology Education, Post-Basic (STEP-B) projects in selected federal institutions in Nigeria.
The World Bank Senior Education Specialist in Nigeria, Dr Tunde Adekola, expressed the feeling in Abuja recently at a meeting of the National Education Sector Steering Committee on Donors’ Assisted States Education Projects.
Adekola said that the bank was pleased with the level of implementation of projects since it started in 2007.
He said for a long time, Nigeria went back and forth rating unsatisfactory and moderately satisfactory. “World Bank is currently spending N55 billion on education projects in 10 states and we are planning to expand the intervention this year. “We are basically spending 95 million dollars in the Lagos Eko project while 90 million dollars is for Lagos, five million dollars will be for federal. “We are also spending 150 million dollars on Programmatic Result Learning project in Bauchi, Anambra, Ekiti and Edo and 100 million dollars on Global Partnership on Education in Kano, Jigawa, Katsina, Kaduna and Sokoto.
Adekola said by June the bank would introduce a policy note on basic education and skills acquisition in Nigeria, where more than 100,000 households had been interviewed.
The Minister of Education, Prof. Ruqayyatu Rufa’I, on her part, appealed to states to address the challenges of the education sector stressing that challenges that could hamper progress had been identified in the sector, including developing sectoral plans and conducting annual school census. Others are improving literacy, building and equipping technical schools and access to matching grants.
She thanked the World Bank for the continuous support of the Nigerian education sector. The minister said that the federal component of the Lagos Eko project had also helped in the drive to enhance quality training of education personnel, including teachers. “I expect the project to complete the work started on supporting the ministry in the provision of some infrastructure for its Education Management Information system.
Also, the Permanent Secretary in the Ministry of Education, Dr MacJohn Nwaobiala, said that the World Bank was desirous of improving the quality and access of the Nigeria education. “We believe that when we work in synergy and collaboration, development partners will always identify areas for which they can provide support to Nigeria.
“I want to say that the support we get from our development partners must be efficiently managed and utilised. “We must review the World Bank strategy from time to time and adopt those that are viable, ‘’he said.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
