“World Bank Injects $500m Into Nigeria’s Economy for State Projects”

By jubril Lawal
1 Min Read
World Bank sign on a modern glass skyscraper. World Bank glass building. 3d rendering.

At least 25 state governments are set to benefit from a newly approved $500 million World Bank loan aimed at improving water resource management for hydropower and irrigation.

The Federal Government, through the Federal Ministry of Water Resources and Sanitation and the Ministry of Power, signed a Memorandum of Understanding with the World Bank on Tuesday to implement the Sustainable Power and Irrigation for Nigeria project.

The signing ceremony was attended by the Minister of Water Resources and Sanitation, Prof. Joseph Utsev, and the Minister of Power, Adebayo Adelabu.

The development was confirmed in a statement by Bolaji Tunji, Special Adviser to the Minister of Power on Strategic Communication and Media Relations, in Abuja.

States to benefit from the project include Benue, Katsina, Akwa Ibom, Niger, Gombe, Sokoto, Enugu, Bauchi, Cross River, Nasarawa, Ekiti, Kebbi, Plateau, Ebonyi, Zamfara, Abia, Kwara, Imo, Taraba, Kano, Delta, Osun, Jigawa, Edo, and Kogi.

According to the statement, the initiative seeks to enhance dam safety, improve water resource management, and advance hydropower and irrigation systems across the country.

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