World Bank Invests Over N4.9trn In Nigeria

The World Bank has invested over N4.9trillion ($12bn) in Nigeria.The bank said it has one of its largest portfolios in the country, promising not to relent in a bid to boost economies of neighbouring countries.

Speaking during a media roundtable for Western and Central Africa with the World Bank Group president, David Malpass at the weekend, the bank noted that, Nigeria has huge potential, adding that, “with some of the improvements in the economic policies, the growth can be rapid for people across Nigeria.

“As we speak, we have probably the largest portfolio of the World Bank in Nigeria, which is in excess of over $12 billion. Those were programmes under implementation covering a variety of sectors, access to electricity, water, education, health and agriculture.”

In this year, the Malpass said, the bank has prepared a pipeline of a number of programmes to execute, stating that, it has delivered about $2 billion projects for Nigeria to help the population have access to critical services while supporting governments and institutions to provide some technical assistance to a variety of stakeholders.