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SHUBHAM CHAUDHURI
A Senegalese national, Ndiame Diop, is set to replace Shubham Chaudhuri, a U.S. national who grew up in India, as World Bank Country Director for Nigeria.
The federal government plans to provide subsidy to developers and operators of solar mini-grids in unserved and underserved areas in the country.
Shubham Chaudhuri revealed that the institution has allocated more than $11 billion in funding to both the federal and sub-national levels of the Nigerian government over the past three years.
The Minister for Communications and Digital Economy, Dr. Bosun Tijani, has revealed that the Federal Government has secured a $500 million loan for local funding programme.
World Bank has said that inflation in Nigeria is likely to push an additional one million Nigerians into poverty by the end of 2022.
The World Bank Group has urged that deep structural reforms guided by evidence are urgently needed to lift millions of Nigerians out of poverty.
World Bank has approved $500 million to support DisCos in Nigeria.
The multilateral bank urged Nigeria's apex bank to ease the pressure on the country's FX market.
FG is expected to provide grants from the CoPREP to the 36 states and the FCT.
The report estimates that Nigeria’s economy would likely contract by 3.2% in 2020.
The World Bank noted that about 47% of Nigerians do not have access to grid electricity.
World Bank has approved about $2.2 billion loans for Nigeria to iuplift human capital and economic development in 2020.