Would you like to receive notifications on latest updates of the following headlines?

World Bank approves $500m for SPIN project in Nigeria

POSTED ON October 4, 2024 •   Business      BY Abiodun Saheed Omodara
World bank l Credit: @WorldBank

The World Bank has approved $500 million for the execution of the Sustainable Power and Irrigation in Nigeria (SPIN) project in the country.

The Regional Director, Sustainable Infrastructure Development for West and Central Africa of the bank, Mr. Chakib Jenane, announced this during a meeting with the Minister of Water Resources and Sanitation, Prof. Joseph Terlumun Utsev and the Minister of State for Water Resources and Sanitation, Bello Goronyo, in his office.

The Personal Assistant on Media and Publicity to the Minister of Water Resources and Sanitation, Mr. Terhemen Oraduen, in a statement, quoted Mr. Jenane as explaining that the approval was granted during the World Bank’s board meeting held last month in Washington DC, United States.

He commended the unwavering commitment and leadership role played by President Bola Ahmed Tinubu and the proactive steps taken by Prof. Utsev, saying they attracted such huge intervention from the World Bank to bridge the water, sanitation and hydropower gap in the country.

The World Bank team also discussed the TRIMMING project which is due to end next year and provided an update on the SURWASH mid-term review during which they appealed to more states to key into the programme to maximise its benefits.

Responding, the Water Resources and Sanitation minister acknowledged the sustained support of the World Bank for the development of hydropower, dams and irrigation projects in the country.

READ ALSO
SEC Educates Traders on Ponzi Scheme Pitfalls
BY Abiodun Saheed Omodara May 9, 2025 0

The Securities and Exchange Commission (SEC) has intensified its efforts to combat Ponzi schemes in...

READ ALSO
Senate Approves Key Tax Reforms, Retains VAT at 7.5%
BY Abiodun Saheed Omodara May 8, 2025 0

Eight months after President Bola Ahmed Tinubu presented four tax reform bills to the National Assem...

READ ALSO
Crude Oil Prices Fall Below $60 as Nigeria Faces Budgetary Challenges Amid Production Struggles
BY Abiodun Saheed Omodara May 6, 2025 0

Crude oil prices have dipped below $60 per barrel, causing worries about the ability of federal and...

READ ALSO
FG  authorities End unauthorized Tin mining in  Kaduna
BY Abiodun Saheed Omodara May 6, 2025 0

KADUNA, Nigeria - The Federal Government has put an end to an unauthorized tin mining operation in D...

READ ALSO
Nigeria's Foreign Exchange Market Sees Significant Inflow Decrease as Foreign Contributions Drop by 16.5%
BY Abiodun Saheed Omodara May 5, 2025 0

The Financial Market Dealers Quotation (FMDQ) has reported that total inflows into Nigeria's exchang...

READ ALSO
Legal Obligations Remain Despite Threats to Exit Nigeria, FCCPC Rebukes Meta Platforms
BY Abiodun Saheed Omodara May 3, 2025 0

The Federal Government, through its Competition and Consumer Protection Commission (FCCPC), has crit...

READ ALSO
NCS enhances border control with e-CDF, Report 69 currency declarations
BY Abiodun Saheed Omodara May 3, 2025 0

ABUJA, Nigeria (NAN) - The Nigeria Customs Service (NCS) has reported a total of 69 currency declara...

READ ALSO
Naira depreciates to N1,602.18 per dollar as CBN reports 0.34% drop
BY Abiodun Saheed Omodara May 3, 2025 0

The naira fell in value at the official market, on Friday,  reaching N1,602.18 to the doll...

OUR CHANNELS:

N50 Million Fraud: Court of Appeal Affirms Conviction of Former Guaranty Trust Bank Employee
BY Abiodun Saheed Omodara May 9, 2025 0

The Court of Appeal in Enugu has affirmed the conviction and seven-year prison sentence of Onyekachi...


Man steals ₦20m worth of wigs in Police custody
BY Abiodun Saheed Omodara May 9, 2025 0

A man named Austine, along with his accomplices, stole wigs worth ₦20 million from a moving truck on...


JUST IN : Vatican appoint New Pope
BY Abiodun Saheed Omodara May 9, 2025 0

The Vatican has appointed Cardinal Robert Prevost as Pope Leo XIV, marking him as the 267th leader o...


Rep to Investigate N200b CBN Loan for National Mass Metering Programme
BY Abiodun Saheed Omodara May 9, 2025 0

The House of Representatives is set to examine the allocation and use of the N200 billion Naira loan...


Senate Approves Key Tax Reforms, Retains VAT at 7.5%
BY Abiodun Saheed Omodara May 8, 2025 0

Eight months after President Bola Ahmed Tinubu presented four tax reform bills to the National Assem...


EU Unveils Plan to Eliminate Russian Gas Imports by 2027
BY Abiodun Saheed Omodara May 9, 2025 0

The EU introduced a long-awaited initiative to eliminate its remaining gas imports from Russia by th...


Police present human parts as evidence in Kwara student’s murder
BY Abiodun Saheed Omodara May 9, 2025 0

KWARA, Nigeria - The trial of Abdulrahman Bello and his alleged accomplices in the suspected ritual...


Edo Speaker Defects to APC, Cites Constituency Development as Key Reason
BY Abiodun Saheed Omodara May 8, 2025 0

EDO, Nigeria - The Speaker of the Edo State House of Assembly, Rt. Hon. Blessing Agbebaku, has provi...


124,408 Terrorists Surrender as Nigeria Strengthens National Security
BY Abiodun Saheed Omodara May 9, 2025 0

ABUJA, Nigeria - Minister of Defence Abubakar Badaru stated on Wednesday that President Bola Ahmed T...


LASG Issues 8,856 Planning Permits to Enhance Building Safety
BY Abiodun Saheed Omodara May 9, 2025 0

LAGOS, Nigeria - The Lagos State Government has announced that it granted 8,856 planning permits ove...


More Articles

Load more...

Menu