Nigeria, W’Bank Micro Projects Gulp N28.7bn


world-bank-group-president-jim-yong-kim-speaks-during-a-press-briefing-at-the-imf-headquarters-april-18-2013-7The federal government has revealed that it has spent over N28.72 billion in the execution of micro-projects, under a joint partnership programme with the World Bank and twenty six state governments in the country.

Thank you for reading this post, don't forget to subscribe!

The National Coordinator of the Federal Support Unit, an arm of the Presidency supervising the implementation of the scheme, Mr. Chidi Onuoha, while giving a recent update on the performance of the development initiative in Abuja, said about 5,464 community-driven projects have been completed since the inception of the programme in 2009.

He listed some of the benefiting states to include, Kogi, Benue, Imo, Abia, Ebonyi, Enugu, Cross River, Akwa Ibom, Edo, Bauchi Adamawa, Ekiti, Kwara and Ondo.

Onuoha said the projects were executed based on eight sectoral interventions, including education, water supply, transport, health, rural electrification, socio-economic, gender and vulnerability, and environment.

For instance, he said there has been improvement in the new school children enrollment figures up to about 49, 057, while about 77.52 per cent of community members now have access to good drinking water.

In the area of healthcare, Onuoha said the more than 1015 micro projects in the sector have succeeded in ameliorating the health problems facing some of the Nigerians attending ante-natal and post-natal clinics.

Under its rural electrification intervention programme, he explained that 98,751 households have been connected to electricity, while an estimated 3,312 new small scale businesses have sprung up.

Under the project financing agreement, the scheme was estimated to gulp a total of $380 million with a combined grant $200 million from the International Donor Agencies (IDA), and while the federal government provides $5 million as operating costs, states and local councils are expected to provide $100 million and $50 million respectively as counterpart funding.

According to Onuoha, the micro project initiative had received a start-off fund of $200 million from the World Bank, and it has since committed 98 per cent of the amount as part of the Bank’s counterpart funding of the various community development projects in the participating 26 states.
Also as at June this year, contribution from the 26 states is N5.8 billion out of the expected N13 billion counterpart funding obligation.

While expressing the need for additional funding from World Bank, federal government and the affected states, the Project Coordinator said it is on record that the micro project initiative has resulted in the improvement of the living standards of the community dwellers.

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

Share post:



More like this

Stanbic IBTC Insurance Launches Education Endowment Plan for Children

June 21, 2024. Azonuchechi Chukwu. Stanbic IBTC Insurance has launched its...

Nigeria gets AfDB’s $15 Million loan address Infrastructure Financing 

June 21, 2024. Azonuchechi Chukwu. The African Development Bank (AfDB) and...

South Africa Reshapes its Democracy, Shows Readiness for Economic Transformation

June 21, 2024. Azonuchechi Chukwu. By Professor Maurice Okoli South Africa's historic...

Naira Depreciates Further to N1,485.36/$1 at Official Market

June 21, 2024. Azonuchechi Chukwu. The Naira continued its fall against...
× How can I help you?