News
Nigeria receives additional $215m W’Bank loan for palliatives
The World Bank has disbursed additional funds to Nigeria under the $800m National Social Safety Net Programme-Scale Up, raising the total amount released to $530m, The PUNCH reports.
World Bank’s official website revealed that the cumulative disbursement had increased from the earlier reported $315m in 2023 to $530m this year, reflecting fresh inflows into Nigeria’s accounts for the palliative programme.
Although the exact day the extra disbursement was made this year could not be independently verified, findings showed that the World Bank was yet to update the detailed section of its portal that typically records transaction dates as of April 30, 2025, suggesting that the disbursement was very recent and likely made this month.
The $800m facility, approved on December 16, 2021, was designed to provide conditional cash transfers to Nigeria’s poorest and most vulnerable citizens, cushioning the impact of recent economic shocks, including the removal of the petrol subsidy.
Originally, the programme was structured to deliver N5,000 monthly to targeted households. However, following policy changes introduced by the Bola Tinubu administration, the payment was revised to N25,000 monthly for three months, aimed at reaching 15 million households across the country.
In October and November 2023, the World Bank disbursed $300m and $15m, respectively, to Nigeria under the programme. A review of World Bank records at the time by The PUNCH showed that the cumulative release then stood at $315m.
New data obtained on Thursday shows that an additional $215m has been released, bringing the total disbursement to $530m and reducing the amount available for drawdown to about $226.73m.
This means that 66.25 per cent of the loan has been disbursed, with about 33.75 per cent left.
Despite receiving World Bank approval since December 2021, the implementation of the palliative programme suffered a disbursement delay of nearly 17 months.
While Nigeria awaited disbursements from the World Bank under the $800m National Social Safety Net Programme-Scale Up loan, data revealed that the country continued to incur and settle interest charges totalling over $6.18m, despite the protracted delay in actual fund utilisation.
World Bank records show that Nigeria paid multiple tranches of interest charges under the financing agreement tagged IDA-70190, including substantial payments made in January and July 2024.
On January 30, 2024, Nigeria paid three separate charges amounting to $822,259.40, $495,603.16, and another $495,603.16, bringing the January total to over $1.81m. These payments came months after the initial $300m and $15m disbursements made in October and November 2023, respectively.
Further charges were paid on July 15, 2024, when four separate interest payments totalling over $5.36m were recorded. The July charges included $1.98m, two entries of $1.19m each, and a separate charge of $3,737.83.
Together with the January payments, Nigeria’s total charges on the loan amounted to approximately $6,181,877.35. These interest charges were paid even as a significant portion of the loan remained undisbursed.
The delays were largely due to administrative bottlenecks, political transitions, and subsequent scandals that rocked the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, the supervising agency.
In December 2023, the Economic and Financial Crimes Commission uncovered an alleged N37.1bn fraud within the ministry under former Minister Sadiya Umar-Farouq. Investigations revealed that funds meant for social interventions were allegedly laundered through contractors and other third parties. Umar-Farouq was invited for questioning by the EFCC and detained in January 2024.
Her successor, Dr Betta Edu, was also implicated after reports surfaced that she authorised the transfer of N585m into a private account for the purpose of paying vulnerable groups. The Accountant-General of the Federation rejected the transaction on the grounds that it violated public financial regulations.
Following these revelations, President Bola Tinubu suspended Edu in January 2024 and ordered a comprehensive investigation into the ministry’s financial dealings. The EFCC confirmed the recovery of about N32.7bn and $445,000 linked to the alleged frauds.
Halima Shehu, who served as the National Coordinator of the National Social Investment Programme Agency, was also arrested after allegedly moving N44bn from NSIPA accounts to several suspicious destinations.
In light of these developments, President Tinubu appointed the Minister of Finance, Wale Edun, to head a special investigative panel tasked with reviewing and restructuring the architecture of Nigeria’s social investment programmes.
The panel’s mandate is to ensure that future interventions are managed transparently and efficiently, with an emphasis on accountability.
The Federal Government, through the Ministry of Humanitarian Affairs and Poverty Alleviation, also partnered with the Central Bank of Nigeria and the National Identity Management Commission to enforce mandatory registration of beneficiaries with Bank Verification Numbers and National Identity Numbers to tighten controls over disbursement.
Despite the initial disbursement delay, the World Bank rated Nigeria’s implementation of the $800m National Social Safety Net Programme-Scale Up as only moderately satisfactory, reflecting both progress and significant areas of concern as the project nears its closing date.
Checks on the Bank’s latest Implementation Status and Results Report show that as of January 29, 2025, the progress towards achieving the Project Development Objective was rated moderately satisfactory.
The overall implementation progress was also graded moderately satisfactory, suggesting that while some milestones had been reached, critical gaps remained in execution and delivery.
However, the bank flagged deeper concerns around financial management, procurement processes, and monitoring and evaluation, all of which were rated moderately unsatisfactory.
According to checks on the World Bank’s website, the Washington-based lender noted lapses in how funds were managed, inconsistencies in procurement procedures, and weaknesses in tracking and evaluating programme results.
The National Social Safety Net Programme-Scale Up is officially scheduled to close on December 31, 2025, pending any extension request from Nigeria to the World Bank.
Prior to the scale up programme, there was an initial National Social Safety Nets Project, approved by the World Bank in June 2016, aimed to provide targeted cash transfers to Nigeria’s poorest and most vulnerable households.
With an International Development Association credit of $500m, the project sought to establish a national social safety net system. The initial NASSP became effective in October 2017 and officially closed on December 31, 2022.
Despite its objectives, the project faced challenges, including allegations of corruption and mismanagement. A recent document from the World Bank website noted, “The 2020 Fiduciary In-depth Review identified some weaknesses in the procurement system in NCTO and NASSCO, respectively.
“The identified issues are being addressed through an action plan, which will be monitored regularly during the implementation of the parent project and Scale-Up operation.”
The National Social Safety Nets Coordinating Office is tasked with managing Nigeria’s National Social Register and coordinating the identification of poor and vulnerable households for cash transfer programmes.
The National Cash Transfer Office, operating under NASSCO, is responsible for administering and disbursing the cash transfers to beneficiaries, ensuring payments are made correctly, and addressing any related grievances.
Both agencies play critical roles in executing the World Bank-supported National Social Safety Net Programme and its Scale-Up by ensuring that financial aid reaches the intended households across the country.
It was also observed that in January 2025, the World Bank announced a 30-month debarment of two Nigerian companies, Viva Atlantic Limited and Technology House Limited, along with their Managing Director and CEO, Mr. Norman Bwuruk Didam.
The debarment was due to findings of fraudulent, collusive, and corrupt practices related to the NASSP. Investigations revealed that the companies and Didam misrepresented conflicts of interest in their bids, accessed confidential tender information from public officials, and submitted falsified documents
Also, they offered inducements to project officials, violating the World Bank’s anti-corruption guidelines.
The debarment prohibits them from participating in any World Bank-financed projects during the sanction period. Much earlier, on March 12, 2024, the World Bank’s Chief Suspension and Debarment Officer issued a notice of sanctions proceedings against Mr. Akuboh Victor Uneojo, a consultant based in Abuja.
Uneojo was debarred for a minimum period of two years and one month after admitting to making corrupt payments to an intermediary intended to influence a project official’s actions concerning a consultancy contract under the NASSP.
These actions were deemed corrupt practices under the World Bank’s sanctions framework. These sanctions indicate the fraud challenges in the implementation of social safety net programmes in Nigeria.
By Our Correspondent
As Nigeria celebrates its 66th Independence Anniversary, the candidate for the House of Representatives seat representing the Ezza South/Ikwo Federal Constituency, Hon. Chief Kevin Tobias Chukwu, has called on Nigerians to remain hopeful and committed to building a better country.
Chukwu, also known as Ochiri Ozua 1 of Amagu Ikwo, made the call in an Independence Day message to Nigerians, particularly the people of Ezza South/Ikwo Federal Constituency and Ebonyi State.
He described the anniversary as not only a moment for celebration but also an opportunity to reflect on the state of the nation and the responsibilities of leaders in building a Nigeria that meets the aspirations of its citizens.
According to him, Nigeria’s journey since independence has been marked by significant challenges, with millions of citizens currently facing economic hardship, while young people continue to search for opportunities and many communities contend with insecurity and uncertainty.
Despite these challenges, the Ebonyi politician said the resilience of Nigerians remained a source of hope for the country’s future.
“I believe in the resilience of our people. I believe in the ingenuity of our youths, the strength of our women, the wisdom of our elders and the determination of ordinary Nigerians who wake up every morning and refuse to give up on this country,” he said.
Chukwu, however, stressed that hope must be matched by responsible leadership, arguing that public office should be viewed as a responsibility rather than a privilege.
He called for leadership that prioritises the protection of lives, creation of economic opportunities, provision of infrastructure, strengthening of institutions and responsible management of national resources.
The candidate also emphasised the need to create an environment where young Nigerians can pursue successful lives within the country and where hard work, merit and enterprise are rewarded.
He said Nigeria had “come too far to surrender to hopelessness,” urging citizens and leaders alike to remain committed to the country’s progress.
“A better Nigeria is still possible, but it will require responsible leadership, accountable institutions and citizens who refuse to give up on their country,” he said.
Chukwu concluded by expressing optimism about Nigeria’s future, declaring: “Nigeria will rise. Nigeria must rise. And together, we must build the Nigeria we deserve.”
He also paid tribute to the nation’s past heroes, praying that their sacrifices would continue to inspire the country.
“May the labour of our heroes past never be in vain,” he said, as he wished Nigerians a happy 66th Independence Anniversary.
By Okey Maduforo, Awka
As Nigeria celebrates its 66th anniversary of independence from colonial rule, democracy in the country has continued to evolve and deepen, the Anambra State Chairman of the All Progressives Congress (APC), Senator Emma Anosike, has said.
Anosike made the observation in a message to mark Nigeria’s Independence anniversary, noting that despite the challenges the country had encountered since 1960, its democratic system had continued to improve under successive administrations.
According to him, since the return to democratic rule in 1999, Nigeria has witnessed relatively smooth transitions from one administration to another, while citizens have continued to exercise their fundamental rights to hold governments accountable for their performance.
“Before the return of the democratic process, it was indeed difficult and near taboo to challenge the leadership of the country, and those who may have attempted it in the past faced grave consequences.
“Similarly, we have had smooth transitions from one dispensation to another, producing five presidents through the ballot and not through the barrel of the gun. These elected presidents were produced by different political parties.”
Anosike said the administration of President Bola Ahmed Tinubu had sustained the country’s democratic principles and created an avenue for Nigerians, irrespective of tribe, race or religion, to express their views on government policies and programmes.
“Under the stewardship of President Bola Ahmed Tinubu, Nigerians have been enjoying the freedom to express themselves over issues, policies and programmes of government, and those expressions have been shaping and guiding the administration of Mr President,” he said.
The APC chairman said Nigeria’s 66th independence anniversary provided an opportunity for citizens to reflect on the country’s journey as a nation and the progress made since independence.
He said President Tinubu’s Independence Day broadcast had offered another opportunity for Nigerians to renew their hope for a greater and more prosperous country.
Anosike also commended what he described as the “enormous infrastructural development” taking place across the country under the Tinubu administration.
He urged Nigerians to continue to support and have faith in the administration as the country approaches the 2027 general elections.
An Elder Statesman, Chief Hycienth Ngwu, has called on political leaders and policies formulators to ensure governmental policies and programmes directly touch lives of the people and reduce hardship in the country.
Ngwu, who is a prominent community leader in Enugu, urged Nigerians to maintain peace within neighbourhoods and communities, as no meaningful development can take place without peace.
The statesman made the call on Thursday in Enugu while reacting to the developmental efforts of Nigeria at its 66th Independence.
He said that previous and present administrations had put in place policies and programmes to reset the socioeconomic fabric of the nation.
Ngwu said that while the removal of fuel subsidy, and unification of the foreign exchange had good intentions, their impact is yet to reflect on the lives and livelihoods of vast majority of Nigerians.
He urged leaders to ensure that public resources were properly managed while citizens remained patient with reforms aimed at improving the socioeconomic status of the country.
The elder statesman noted that at 66th independence, the country was still struggling on keeping its peace and co-existence as a country; adding that the founding leaders of Nigeria envisaged a closely united, bonded and peaceful country.
He called for return to policies that promote local production, indigenous industries and entrepreneurship, arguing that excessive dependence on imports had continued to weaken the country’s productive capacity.
According to him, we are yet to achieve economic independence even as we needed to do more on non oil revenue earns as the greater part of the world is moving towards greener and clean energy.
“Greater emphasis should be on skills acquisition, creativity and entrepreneurship education system, as academic qualifications without practical skills could leave graduates dependent on scarce white collar jobs.
“We ought to be economically productive nation capable of producing and exporting goods while developing its human capital,” he said.
Ngwu noted that current insecurity and social instability could be partly attributed to poverty and ignorance, while calling for greater honesty and trust between leaders and citizens.
“Corruption, tribalism and selfishness must be addressed if Nigeria is to achieve peace and lasting progress,” he added.
He also called for the scrapping of state electoral commissions as they have not helped in deepening democracy at that level. The National Election body should take over that responsibility.
As Nigeria marks its 66th Independence Day, Macmaduson Concepts Limited, a leading provider of HVACR,industrial parts, sensors, electrical and plumbing materials, has extended warm Independence Day greetings to its customers, clients and business partners across the country.
In a goodwill message to mark the occasion, the company expressed appreciation to its valued customers for their continuous support, trust and partnership over the years.
Macmaduson Concepts Limited, which specialises in HVACR,Industrial Materials, sensors, air-conditioners, refrigerators, cold rooms, chillers, refrigerants, electrical materials and plumbing materials, said the occasion provides an opportunity to celebrate Nigeria and reflect on the nation’s journey.
The company wished Nigeria continued growth, unity, peace and prosperity, while expressing hope for a brighter future for all Nigerians.
The message from the company reads in part:
At Macmaduson Concepts Limited, we celebrate our great nation, Nigeria, and appreciate our valued clients for their continuous support, trust and partnership. May Nigeria continue to grow in unity, peace and prosperity.”
The company concluded its Independence Day message with the theme: “One Nation, One People, A Brighter Tomorrow.”
Happy Independence Day, Nigeria!
Happy 66th Independence Anniversary from Macmaduson Concepts Limited.
By Okey Maduforo, Awka
The perennial flooding in Awka, the Anambra State capital, may soon be brought under control following the commencement of flood control measures by the Awka Capital Territory Development Authority (ACTDA).
The Authority has commenced the dredging of the Obibia Stream as part of efforts to improve the flow of floodwater and reduce flooding on major roads and streets within the capital territory.
During the rainy season, Zik’s Avenue, one of the major roads in Awka, is frequently affected by flooding, with water reportedly submerging buildings and disrupting commercial activities and vehicular movement, particularly around Eke Awka Main Market.
The ACTDA management has also commenced the desilting of drains and flood channels across the capital territory to ensure the free flow of water during heavy rainfall.
Speaking on the development, the Managing Director and Chief Executive Officer of ACTDA, Ozo Ossy Onuko, attributed the recurring flooding to the blockage of drainage systems, largely caused by human activities.
Onuko said the desilting of drains would remain a continuous exercise, adding that the Authority would periodically clear the drainage channels to improve water flow.
“What we must understand is that the flood is as a result of the drainage that has been blocked, and this is due to human activities. When you go to Eke Awka Market, most of the water channels are affected, but we shall continue to carry out the desilting of those drainages for water to flow easily,” he said.
He further disclosed that the Obibia Stream was being dredged to facilitate the easy flow of floodwater.
“As you also know, we have commenced the dredging of the Obibia Stream, which is part of efforts by government towards putting an end to the perennial flooding in the Capital City,” Onuko stated.
The ACTDA boss also observed that some of the drainage channels constructed in Awka in the past were not deep or wide enough to accommodate the volume of water generated during heavy rainfall.
According to him, the situation is further worsened when residents block the drainage channels with refuse and other materials.
He said the Authority was mobilising and sensitising market organisations and village associations to support government efforts in tackling flooding within the capital territory.
“Government is surely playing its role in that regard, but it is also the duty of residents of the Capital City to clear their gutters and ensure that garbage is not dumped inside the drainages,” he said.
Onuko expressed optimism that the measures being implemented would significantly reduce the flooding problem in Awka, while urging residents to support the government’s efforts.
“With what we are doing so far, the challenges of flooding would soon be a thing of the past, and we urge all and sundry to be part of this move because natural disasters know no bounds,” he stated.
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