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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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Nigeria Hosts World Public Relations Forum Sept  …As Experts Seek Inclusion Of PR In Decision Making 

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Barring last minute changes, Nigeria will host the world public relations forum in September this year.

President, Nigerian Institute of Public Relations, Dr Ike Neliaku disclosed this in a goodwill message at the 2026 World Public Relations Day which took place at the Ignatius Ajuru university of Education, Port Harcourt

The theme for this year’s World Public Relations Day was “Golden Age; Driving Impact of Strategic Public Relations”.

The president, who was represented by a member of the Governing Council of the Institute, Pastor Paulinus Nsirim, said over 3,000 delegates from over 128 countries are expected at the event scheduled to hold in Abuja this September.

Meanwhile, PR experts have called for policies that will ensure the inclusion of public relations practitioners in all decision making bodies in the society.

They said this at the just concluded world Public Relations Day in Port Harcourt.

According to them, public relations has evolved beyond mere media relations, as it has become a necessary ingredients for community development

Speaking on this, President of the Institute, Dr. Ike Neliaku, said public relations has evolved  into a high value strategic function at the highest level of decision making in the society.

“Public Relations practitioners are now board room strategists, reputation architects and custodians of institutional credibility, shaping decisions at the highest levels of governance and leadership,” he said.

He urged practitioners to lead with insight, counsel with integrity and build trust based relationship that define strategic influence.

?Chairman of the Rivers State Chapter of the NIPR, Rev. Francis Asuk, described the theme for the celebration as both timely and profound as it recognises the critical role of strategic communications in addressing the complex , social, economic, political and developmental challenges of our time.

Asuk said the celebration is a reminder that public relations has evolved to become a strategic management function that build trust, shape perception, strengthen institutions and foster sustainable relationship between organisation and their stakeholders.

The NIPR chairman, however, lamented the influx of quacks into the practice, warning that something must be done about it.

?He emphasized that only licensed professionals can effectively communicate and market government policies and organisational programmes to achieve set targets.

? “We have observed that people who are not professionals, who are not chartered, who are not members, are secretly entering  into the profession and creating confusion, creating all the wrong perceptions that sometimes come.

“If you are not a registered member of NIPR, you do not have the license to practice. And therefore, we encourage all those who want to be communication professionals,  to properly register with the NIPR. The NIPR has made it possible and has created a robust platform to encourage all who are qualified to come in and practice and be trained”.

?Azuk noted that the theme of the the 2026 World PR Day, “The Golden Age of Strategic Public Relations,”  recognises the critical role of strategic communications in addressing the complex social, economic, political, and developmental challenges of the the present time.

?”It also reminds us that public relations has evolved beyond publicity to become a strategic management function that builds trust, shapes perception, strengthens institutions, and fosters sustainable relationships between organisations and their stakeholders,” he added.

?He noted that for a developing economy such as Nigeria, strategic public relations is indispensable, stressing that sustainable development cannot be achieved without effective communication that encourages transparency, builds public confidence, promotes citizen engagement, and inspires active service.

By: John Bibor

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Tinubu, Fubara Condole Amaechi Over Mother’s Death

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President Bola Tinubu has commiserated with the former governor of Rivers State and Minister of Transportation, Rt. Hon. Rotimi Chibuike Amaechi, over the passing of his mother, Dame Ezinne Mary Oduah Amaechi, who died at the age of 89.

Tinubu, in a statement by his Special Adviser on Information & Strategy, Bayo Onanuga, last Friday, expressed heartfelt condolences to Amaechi and family, the Catholic Church and the government and people of Rivers State over the loss of the deceased.

He acknowledged the deceased’s commitment to the Catholic faith, her exemplary devotion to family values, and her dedication to raising her children.

The President also noted that the late matriarch’s life reflected the virtues of love, sacrifice, kindness, and perseverance, qualities that endeared her to all who came in contact with her.

He urged the bereaved family to take solace in the remarkable legacy of faith, dignity, and service that Dame Amaechi bequeathed to her children, the Church, and society.

“My heartfelt condolences to  Rt. Hon. Amaechi, the entire Amaechi family, the Catholic faithful, and the government and people of Rivers State over the loss of Dame Ezinne Amaechi, a champion of faith whose life was marked by humility and selfless service to humanity.

“May Almighty God grant her soul eternal rest and comfort all who mourn her passing at this difficult time”, the President said.

In his own condolence message, the Rivers State Governor, Sir Siminalayi Fubara, expressed deep sympathy with Amaechi, describing the death of his mother as an irreparable loss not only to the immediate family, but to the Catholic congregation, the entire Ubima community and Rivers State.

In a condolence message issued on behalf of the government and people of Rivers State, Fubara noted that the loss of a mother is a deeply painful experience, and urged the family to take solace in the good life the deceased lived and the legacies she left behind.

He acknowledged the vital role the deceased “played in shaping the character and values of her family and the community at large.”

He prayed God Almighty to comfort the entire family at this difficult period and grant the soul of the departed matriarch a peaceful rest.

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Uphold Principles Of Dev, Rivers SSG Charges Tertiary Institutions

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The Secretary to the Rivers State Government, Dr. Dagogo Wokoma, has urged officers of tertiary institutions in the state to continue to uphold the principles of educational development for societal growth.

The SSG noted this during a courtesy visit by the Rector and principal officers of Captain Elechi Amadi Polytechnic in Port Harcourt, last Friday.

The SSG, according to a statement by the Head of the Media in his office, Juliana Masi, noted that education is a catalyst for development.

“I believe this institution will continue to grow and become a central place of learning and development,” he said.

Also speaking, the Rector, Captain Elechi Amadi Polytechnic, Dr. Moses Neebee, said the projects initiated by Governor Siminalayi Fubara’s administration are ready for commissioning.

He said the polytechnic was accredited by the National Board of Technical Education and the Federal Ministry of Education, and is therefore ready for greater impact in the educational sector.

The Rector thanked Governor Siminalayi Fubara for timely execution of projects and welfare of staff in the institution, and appealed to the State Government for further support.

“We thank His Excellency, Sir Siminalayi Fubara for fulfilling his promise in the polytechnic by ensuring the execution of projects and the welfare of staff”, he said.

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