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World Bank to consider Nigeria’s fresh $1bn loan request

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The World Bank has fixed December 16 as a tentative approval date for a fresh $1bn Development Policy Financing loan to the country under a new initiative tagged “Nigeria Actions for Investment and Jobs Acceleration (P512892).”

According to a project document published by the bank on October 27, the new facility comprises a $500m International Development Association credit and a $500m International Bank for Reconstruction and Development loan.

The facility, which falls under the bannk’s Macroeconomics, Trade and Investment practice area for the Western and Central Africa region, is designed to strengthen ongoing economic reforms, promote job creation, and accelerate private investment.

The proposed loan is part of the bank’s broader support package aimed at consolidating the country’s post-reform stability and driving inclusive growth across key sectors of the economy.

The funding is designed to consolidate Nigeria’s ongoing macroeconomic reforms and support a decisive shift from economic stabilisation to inclusive growth.

It will be implemented through the Federal Ministry of Finance, with the World Bank confirming that the loan preparation process has been authorised to proceed.

“The proposed Development Policy Financing supports Nigeria’s pivot from stabilisation to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500m IDA credit and US$500m IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.

Since 2023, the country has embarked on many economic reforms, including the removal of the petrol subsidy, unification of exchange rates, and an end to central bank deficit financing.

According to the Federal Government, the measures, championed under President Bola Tinubu’s Renewed Hope Agenda, have helped stabilise the economy, narrow the fiscal deficit, and restore investor confidence.

But despite the improvements, growth remains sluggish, with more than 130 million Nigerians still living in poverty.

The World Bank report noted that while macroeconomic stability has returned, “Nigeria’s economy has yet to shift decisively into a higher and inclusive growth path,” underscoring the urgency of new investment to spur productivity, diversify exports, and create jobs.

The new policy loan is structured around two key pillars: unlocking private sector growth and lowering the cost of doing business, while expanding opportunities across agriculture, trade, and digital services.

Under the first pillar, the facility will expand access to financial credit and digital inclusion, with backing for the investment and Securities Act 2025, new credit enhancement facilities, and a CBN Rulebook aimed at improving microfinance and non-bank financial institutions.

It also supports the National Digital Economy and E-Governance Bill 2025, which will provide a legal framework for electronic transactions, authentication services, and digital records, key steps toward building a modern, paperless government system.

The second pillar seeks to lower costs for firms and households, reduce inflationary pressures, and enhance export competitiveness.

The bank’s report highlights plans to simplify trade barriers, adopt AfCFTA tariff concessions, and improve certified seed systems for key crops like rice, maize, and soybeans.

This is expected to raise productivity, boost food security, and attract new private investment into the agricultural value chain.

According to the document, the $1bn DPF loan forms part of a broader FY2026 package of World Bank interventions supporting Nigeria’s growth agenda.

Other complementary projects include FINCLUDE (to improve MSME financing), BRIDGE (digital infrastructure), and AGROW (agricultural value chain growth). Together, these are expected to crowd in private capital, expand access to finance, and create an enabling environment for small and medium-scale enterprises.

The programme is also aligned with the Paris Climate Agreement, with components targeting climate-resilient agriculture, reduced deforestation, and digital governance systems that lower emissions from paper-based processes.

The Bank estimates that the policy reforms supported under this operation will help reduce food inflation, increase seed productivity, and expand digital exports, while creating millions of direct and indirect jobs. It added that improved access to credit, particularly for MSMEs and smallholder farmers, will translate to “expanded economic opportunities by creating jobs, including for the poor.”

In addition, reduced import bans and lower tariffs on key inputs are expected to make goods cheaper and improve consumer welfare, while also boosting Nigeria’s competitiveness in regional markets.

Upon approval, the funds will be disbursed in two tranches as policy milestones are achieved, with implementation overseen by the Federal Ministry of Finance in collaboration with the Central Bank of Nigeria and relevant line ministries.

The initiative is expected to anchor Nigeria’s transition from short-term stabilisation to long-term, inclusive growth, potentially marking one of the largest World Bank policy support operations for the country in recent years.

As of June 30, 2025, the country’s external debt stood at $46.98bn, figures from the Debt Management Office show.

The World Bank Group remains the country’s largest single creditor, accounting for $19.39bn comprising $18.04bn from the IDA and $1.35bn from the IBRD.

This means the bank holds 41.3 per cent of Nigeria’s total external debt, underscoring its dominant role in financing the nation’s development programmes.

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Rivers DPOs Receive Awards For Outstanding Performance In Crime Prevention …As Students, Media Group Honour CSP Worgu, CSP Yusuf

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Two Divisional Police Officers (DPOs) in Rivers State have been honoured by separate groups for their contributions to security, crime prevention and improved community-police relations in their respective areas of responsibility.

The beneficiaries are the DPO of Afam Police Division, CSP  Endurance Worgu and his counterpart at Oyigbo Police Division, CSP Bello Yusuf.

CSP Worgu was honoured by a group of students under the aegis of Rivers State Graduate Students Associations for what they described as his commitment and outstanding performance in the discharge of his duties.

The students, led by  Chidi John Enyie, Esq. said CSP Worgu was selected based on his track record and status as one of the longest-serving young DPOs of Rivers State origin.

According to the group, CSP Worgu has made significant contributions to the protection of lives and property in the area since assuming office following the #EndSARS period.

The students said they were particularly impressed by the improvement in community-police relations under his leadership, noting that professionalism had remained a key feature of his service.

Enyie represented by Comrade Briggs Soku, said the students community was pleased to identify with a Rivers indigene who had distinguished himself in the police force.

He said the students considered it necessary to encourage and celebrate CSP Worgu because of his achievements as a young Rivers man excelling in a profession that many people from the state were often reluctant to join.

Receiving the award at his office in Afam, CSP Worgu expressed gratitude to God and the students for finding him worthy of the honour.

The DPO said the recognition had boosted his morale and encouraged him to sustain his efforts towards maintaining peace and security in the area.

He said he least expected the honour, particularly because it came from the students, adding that the recognition would further motivate him to serve the people better.

CSP Worgu assured residents of Afam that the police would sustain the existing peace in the area.

He appealed to members of the public to support the police by providing credible and timely information, stressing that useful information from residents would make the job of security personnel easier.

Meanwhile, the Ikwerre/Etche Media Association has also honoured the DPO of Oyigbo Police Division, CSP Bello Yusuf, for his efforts in tackling criminal activities in the area.

The media group presented the award following the swift tracking and arrest of five suspected kidnappers who had allegedly terrorised residents of the Kom-Kom axis and other parts of Oyigbo.

The group commended CSP Bello for what it described as his determined efforts to restore confidence and security in the affected communities, particularly Kom-Kom and Obeama.

According to the group, the arrest of the suspects demonstrated the DPO’s commitment to tackling criminality and safeguarding residents.

The media association said residents had received the development with relief, noting that the police action had sent a strong message to criminal elements operating in the area.

Responding, CSP Yusuf appreciated the group for the recognition and reaffirmed that there would be no room for criminality in Oyigbo.

He also commended the media for its role in disseminating credible information to the public, saying the media had remained supportive of the police in the fight against crime.

CSP Yusuf warned criminal elements operating in Oyigbo to leave the area or be prepared to face the full weight of the law.

He assured residents that the police would continue to pursue criminals and work to dismantle their hideouts, regardless of where they might be operating.

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College Of Bishops Endorses Tinubu, APC Candidates  For 2027 Polls

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The 5000 Achievers Christian Forum and Colleges of Bishops, Archbishops and Apostles, a Christian interdenominational organisation, has endorsed President Bola Ahmed Tinubu and all candidates of the All Progressives Congress (APC) in Rivers State for the 2027 general elections.

International President of the forum, Archbishop Lucky Aroh, disclosed this during the ordination and consecration of three new Bishops, as well as an award ceremony held in Port Harcourt.

Aroh said the performance of the APC-led Federal Government had endeared the party to the organisation, prompting the forum to declare its support for President Tinubu and other APC candidates in Rivers State.

He said the forum would support all APC candidates in the state during the 2027 elections and urged Nigerians to vote for the party.

Aroh, who is also the General Overseer of Caring Peoples Church, Port Harcourt, charged the newly consecrated Bishops to see their new positions as a great responsibility and dedicate themselves to the advancement of the kingdom of God.

He cautioned them against conduct capable of bringing their offices into disrepute, stressing that their activities would be closely watched by members of the public.

“As Bishops, the eyes of the public are on your activities. You must therefore conduct yourselves in a manner worthy of your calling,” he said.

Also speaking, the International Coordinator of the forum, Bishop Saint Robinson, urged the newly consecrated Bishops to work diligently towards winning souls for the kingdom of God.

Robinson, who was the guest speaker at the event, stressed that the activities of Bishops must at all times be guided by godly principles.

He also called on members of the church to support and cooperate with the newly consecrated Bishops in the discharge of their responsibilities.

The Secretary of the College, Apostle Elizabeth Ayadi Abaye, said the organisation was established to advance the kingdom of God and promote spiritual development.

According to her, the forum has organised several crusades, conferences, prayer meetings, ordinations, consecrations, enthronements, empowerment programmes and other spiritual development activities across the country as part of efforts to win souls for Christ.

Abaye said the organisation has members across the world and disclosed that more programmes had been scheduled to promote the spiritual development and wellbeing of humanity.

The three Bishops consecrated at the ceremony were Prince Alban Chike, Testimony Omenihu Shedrach and Prince Ifemena.

Among those honoured at the event were the Chairman of the Community Development Committee (CDC), Abali Community, Port Harcourt City Local Government Area, Manuchimso Prince Lemmy Wopara, and Clifford Oko Jaja, Coordinator of the 5,000 House-to-House for President Tinubu.

By: John Bibor

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Police Arrest Fake Soldier, Others For Armed Robbery, Kidnapping

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The Rivers State Police Command has arrested a 49-year-old suspected fake soldier, Andrew Atausi, and several other suspects in connection with various criminal activities, including kidnapping, armed robbery, cultism, one-chance robbery and the alleged murder of police officers.

The State Commissioner of Police, CP Olugbenga Adepoju, disclosed this in Port Harcourt, recently during a press briefing at the Command Headquarters, where he said the arrests formed part of the operational achievements recorded by the Command between June and August 2026.

Adepoju said Atausi was arrested on August 10 by police operatives along Ada George, Port Harcourt, while dressed in military uniform and driving a Toyota Hilux painted in Army colours.

The Commissioner said investigation revealed that Atausi was not a member of the Armed Forces, adding that he was suspected to be a serial car snatcher, with three suspected stolen vehicles recovered from him.

He said the recovered vehicles included three Toyota Hilux vehicles without registration numbers and a Toyota Corona Premio with registration number BNY 380 ES, noting that the chassis and engine numbers of the vehicles had allegedly been tampered with.

Adepoju added that an axe and military accoutrements were also recovered from Atausi, as investigation continued into the circumstances surrounding the vehicles and other items recovered from him.

On the June 29 attack on police officers at Aluu Division, the Commissioner said three members of the gang allegedly responsible for the incident had been arrested by operatives of the Violent Crime Response Unit, VCRU-AKU.

The suspects, identified as Maduabuchi Emeka, 34, alleged gang leader; Doctor Chinedu Owhor, 42, and Kamachi Joe, 28, alleged armourer, reportedly led operatives to their hideout at Omagwa where two AK-47 rifles stolen during the attack were recovered.

Adepoju recalled that two police officers were killed during the Aluu attack, while others were wounded and one officer had his leg amputated, stressing that efforts were ongoing to apprehend the fourth suspect.

On kidnapping, the Commissioner said five members of a suspected kidnapping syndicate were arrested in Oyigbo Local Government Area, adding that they allegedly confessed to operations in Kom-Kom, Railway, Obeama and Afam communities.

He said two other suspects from the same network, Anele Ogbogu, 35, alleged to be the gang’s armourer, and Kenneth Eke, 38, were arrested on July 27, with one AK-47 rifle and one SMG rifle recovered.

The Commissioner further disclosed the arrest of suspects in connection with alleged firearm offences, armed robbery, cultism and one-chance robbery, with firearms, ammunition and other exhibits recovered during the operations.

Adepoju assured residents that the Command would sustain intelligence-led, proactive and community-oriented policing in collaboration with other security agencies, while urging members of the public to continue providing credible information that would assist the police in combating crime across Rivers State.

By; King Onunwor

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