The World Bank has unfolded a package which would see it spending up to $2.1 billion in rebuilding the badly devastated North-eastern part of Nigeria, ravaged for the past six years by the Boko Haram insurgency.
At a meeting in Washington today with representatives of the World Bank, the Bill and Melinda Gates Foundation, and the World Health Organization (WHO), President Buhari said apart from rebuilding the region in terms of infrastructure, priority must also be given to the resettlement of internally displaced persons (IDPs), who now number over one million.
He urged the World Bank to send a team, which would work in concert with a team from the Federal Government, so that a proper assessment of needs could be done.
The World Bank will spend the 2.1 billion dollars through its IDA (International Development Agency), which gives low interest rates loans to government. The first 10 years will be interest free, while an additional 30 years will be at lower than capital market rate.
The World Bank is eager to move in quickly, give out the loans, and give succour to the people of North-east, long at the mercy of an insurgency that has claimed over 20,000 souls.
WHO is also to invest 300 million dollars on immunization against malaria in Nigeria, while the Bill and Melinda Gates Foundation will collaborate with Dangote Foundation to ensure that the country maintains its zero polio case record of the past one year. If the effort is sustained for another two years, Nigeria will be declared fully free of polio.
FEMI ADESINA
SPECIAL ADVISER, MEDIA AND PUBLICITY
JULY 21, 2015
Good move
ReplyDeleteThis is an utterly silly move. Taking decisions up and down without any ministers to caution him. Why borrow money when the war hasn't even been won yet. In the time frame dat he'l use to defeat BH, wnt nigeria have generated that money. After all he got billions of dollars in a month from LNG sales which he used to settle states. If he gets same billions in 6 months, wnt it be much more than enough to rebuild the northeastern nigeria.
DeleteThis is an utterly silly move. Taking decisions up and down without any ministers to caution him. Why borrow money when the war hasn't even been won yet. In the time frame dat he'l use to defeat BH, wnt nigeria have generated that money. After all he got billions of dollars in a month from LNG sales which he used to settle states. If he gets same billions in 6 months, wnt it be much more than enough to rebuild the northeastern nigeria.
DeleteHmmmmm!!!they done borrow money again
ReplyDeleteBorrow borrow pple.
DeleteMoney to chop or money to be used properly. We dey wait
DeleteNigeria will be great again.
ReplyDeleteIf only they will make use of it.... they go loot half of that money
ReplyDeleteWhat is really the agenda of this Govt? bombs are still going off and you are rebuilding? where will the workers be working to rebuild it? its this kind of policies that keeps dividing the country along ethnic lines.
ReplyDeleteHow come the world bank never see any need to support rebuild the ND and other regions that experienced devastation? Its very clear that Buhari requested for it.
Well said
DeleteYes he did and he's not trying to hide that fact. The question is, why didn't Jonathan request the same for his "people"?
DeleteExactly!!! It's a puzzle!
DeleteThey should make it safe and habitable Before rebuilding.
ReplyDeleteNew post published! Please check my blog and join the debate. Thanks
And so slavery begins! Greek gift
ReplyDeleteWhat doz dis mean???biko....so u traveld 3 USA jst 4 North-east?.......ok....we dey watch o
ReplyDeleteNorthern Agenda
ReplyDeleteNice 1, all thanks 2 world bank n fed govt
DeleteWow! That's just a tiny fraction of the money unaccounted for in the last administration alone. I swear I don't get it.
ReplyDeleteChange is already manifesting
ReplyDeleteThat is how they always put us in debt
ReplyDeleteCongrats to my 9ja and thanks to World Banks for that offer. Nigerians are looking forward to see the manifestation of the money in the North Eastern part of the country
ReplyDeleteNice one..
ReplyDeleteCool
ReplyDeleteplease how are they going to pay back this amount?
ReplyDeleteOkay
ReplyDeleteJust pray some greedy politicians won't steal the money.
ReplyDeletehmmm... Rebuilding northeast when boko haram is still ravaging the area.
ReplyDeleteThey should end boko haram insurgency first
Y did dey na na put those short short chinko ekun women at d back na
ReplyDelete......
Issokay seen, all the best to them. Dey deserve to get back their homes. Linda take note!
ReplyDeleteAlways borrowing, yet bros baba will say his cleaning up the mess from d past administration, meanwhile his adding to the mess
ReplyDeletea.k.a EDWIN CHINEDU AZUBUKO said..
ReplyDelete.
One bank account all this money dey enter that na fact though.....
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***CURRENTLY IN JUPITER***
a.k.a EDWIN CHINEDU AZUBUKO said..
ReplyDelete.
One bank account all this money dey enter that na fact though.....
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***CURRENTLY IN JUPITER***
Why only North East Nigeria they've been in power for Good 30yrs and no good is done to that region always bringing shame to Nigeria. Waste of resources! They don't need it. Caliphate areas shared indegenous African value and islamic political system (the law allah has revealed to guild human affairs) They implement policies within framework of sharia, They will never change. WE NEED STEADY ELECTRICITY IN EVERY REGION OF NIGERIA.
ReplyDeleteNorthern agenda. Dat is what dey want. I can't stand this sham called nigeria
ReplyDeleteTo rebuild the North-East when the destruction is still ongoing?
ReplyDeleteWhat of Odi, Zaki-Ibiam and the villages of Plateau and Benue states?
ReplyDeleteInfrastructure - security = waste of money and time
ReplyDeleteCredit abi?
ReplyDeleteTaking money is not the issue but using it wisely. It's not supposed to be only north east thing but generally cos everywhere need rebuilding in nigeria
ReplyDeleteI remember when OBJ borrowed 2.8bn (or something like that) from IMF. That was the beginning of Nigeria's financial problems. He immediately put us on austerity measures and devalued our strong currency. Now this one is doing the same thing. 3 months in office, no cabinet, no minister, and he is borrowing money to rebuild a war zone currently under attack. Without any ministers who exactly did he consult? Who agreed to this? Who said we don't have $2bn of our own (including manpower and expertise) to rebuild a few mud huts and thatch houses. All those clamouring for change. Here is your change: First Nigerian to sleep in American guest house. Now he is paying $2.1bn of our sweat for the privilege.
ReplyDeleteSeconded. Hopefully, the BH insurgency will be tamed before any rebuilding efforts begin in the NE. Otherwise, it will be back to ground zero. If this isn't the case of a cat chasing its tail, don't know what is......this type of detrimental naija governance and policy decisions (esp about more debts and currency devaluations) over the years.
DeleteSo this Administration is for Northern people only ODI egwu
ReplyDeleteRubbish!!! dem dey plant yam and cassava for bush when still dey on fire? That money is headed for embezzlement again, a lot of excuses....Na borrow borrow administration APC wan use us do self? Make we dey look na
ReplyDeleteCan't they get such credit for each of the six geopolitical zones so that the whole country can be rebuilt?
ReplyDeleteMore World Bank /IMF debts for successive naija generations to pay off even in the face of diminising foreign earnings. How about using part of the repatriated proceeds from international bank accounts, as promised by Europe and the USA, for the rebuilding efforts? Yes, a percentage from the stolen billions, stashed away by various ministers, legislooters and white collar thieves ought to be applied towards this enterprise without over-burdening the country and citizens.
ReplyDeleteGood move
ReplyDelete