World Bank awards hefty aid to Nigeria

After congratulating Nigeria for its strong macroeconomic performance and anti-corruption campaign in the last four years, the World Bank announced that it will funnel a total of USD2.4 million to a project that will help boost the country’s development, economic management, and governance capacities. World Bank vice president for the African region Obiageli Ezekwesili encouraged the Nigerian government to continue implementing beneficial reforms and to lead the country towards economic self-sufficiency and progress. “Nigeria will benefit from an expanded policy and knowledge transfer. It could also benefit from increased credit allocation within the next four years, provided it continues to sustain macro and fiscal stability, strengthening governance and anti-corruption efforts at both federal and state levels,” she said. “With prudent management of its own resources, Government can make a lot of difference in the lives of many ordinary Nigerians.” (Source: Nigeria: World Bank to Spend USD2.4 Billion/Vanguard)

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