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Nigeria seeks World Bank’s approval to restructure $650m health loan
Nigeria seeks World Bank’s approval to restructure $650m health loan
The Federal Republic of Nigeria is seeking the World Bank’s approval to restructure a $650 million loan allocated to the Nigeria Improved Child Survival Program for Human Capital (ICSPHC).
This is according to the “Restructuring Paper” on the program, which was seen by Nairametrics.
The program is a critical component of Nigeria’s broader health sector reform efforts, designed to reduce the under-five mortality rate from 132 per 1,000 births in 2018 to 79 per 1,000 by 2030.
According to the restructuring paper, this request follows the mid-term review of the project, which highlighted the need for strategic adjustments to better align with the government’s evolving approach to health sector reform, particularly in child and maternal health.
The document read: “This Restructuring Paper seeks the approval of the Country Director to carry out a Level-two restructuring of the Immunization Plus and Malaria Progress by Accelerating Coverage and Transforming Services Project (IMPACT P167156), the first phase of the Nigeria Improved Child Survival Program for Human Capital Multiphase Programmatic Approach (MPA).
“This Level 2 restructuring proposes to (a) revise the components and costs; (b) reallocate funds across disbursement categories; and (c) modify the Results Framework. This is the second restructuring of the IMPACT Project as it was restructured once in July 2021 and revised Component 2 to include financing the construction of the Lagos vaccine Hub.”
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It added: “The proposed restructuring is based on the outcome of the October 2023 Mid-Term Review (MTR) and agreements reached as detailed in a letter of request dated March 26, 2024 (Reference No. LF466: FMOFIER-240328) and extensive discussions between the Government and the World Bank regarding the shift in the Government’s approach in the health sector.”
Proposed Changes
Although the project has been described as moderately satisfactory, the proposed restructuring involves several key changes to the project’s design and implementation strategy.
The Nigerian government intends to reallocate funds across disbursement categories, freeing up resources to expand the Basic Health Care Provision Fund (BHCPF) to additional states. This expansion will enhance access to essential health services, particularly in regions lagging in key health indicators. Also, the government plans to revise the project’s results framework, incorporating alternative data sources such as the Multiple Indicator Cluster Surveys (MICS) to address gaps in monitoring and evaluation.
The restructuring will also involve the deletion of specific activities, such as the centralized procurement of Long-Lasting Insecticidal Nets (LLINs) and other malaria commodities. Instead, participating states will manage their own procurement processes, ensuring timely delivery of malaria prevention tools. This shift is expected to improve the efficiency of malaria control efforts and support the broader goal of reducing under-five mortality.
Moreover, the restructuring includes the addition of a new sub-component focused on improving secondary health facilities and training institutions for healthcare workers.
Nigeria seeks World Bank’s approval to restructure $650m health loan
News
School teachers begin indefinite strike in Abuja
School teachers begin indefinite strike in Abuja
Teachers in government-owned schools across the Federal Capital Territory (FCT) have started an indefinite strike. This action follows the expiration of a 14-day ultimatum issued by the Nigeria Union of Teachers (NUT), FCT Chapter, to the six area councils in the territory.
On Wednesday, pupils who arrived at school were sent home by their teachers upon reaching the school gates, leaving them disappointed.
Comrade Ameh Baba, the NUT Chairman in Kubwa, confirmed the strike, explaining that it was initiated to push for the payment of 60 percent of the minimum wage arrears owed by the area councils.
He also criticized the councils for failing to implement the payment of 40 percent peculiar allowances and the 25 percent and 35 percent salary increments for teachers.
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Comrade Ameh stressed the importance of primary education as the foundation of human development and urged the government to treat the matter seriously.
The union warned that if the government does not respond within seven days, they will escalate the strike by picketing the area council secretariats and organizing protests, with secondary school teachers joining in solidarity. He also noted that the strike would impact Junior Secondary School 1 students, as their results are due for release.
School teachers begin indefinite strike in Abuja
News
Students can reapply for loans, we’ve resolved BVN verification glitch – NELFUND
Students can reapply for loans, we’ve resolved BVN verification glitch – NELFUND
The Nigerian Education Loan Fund (NELFUND) has announced the resolution of a technical issue that disrupted the BVN (Bank Verification Number) verification process for students applying for loans.
The issue, which began over the weekend and persisted through the public holiday, caused delays for many applicants.
In a statement posted on NELFUND’s official X (formerly Twitter) account on Wednesday, the organization confirmed that the issue had been fully resolved by Tuesday morning. NELFUND advised all affected students to log back into the portal, complete their BVN verification, and proceed with their loan applications.
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“Dear Students,
“We have observed that many of you experienced issues with BVN verification while applying for the student loan over the last weekend, including the public holiday.
“We are pleased to inform you that the issue has been addressed and fully resolved as of yesterday morning.
“We kindly advise all affected students to log back into the portal, complete the BVN verification process, and proceed with your loan application,” the statement read in part.
NELFUND also expressed gratitude to students for their patience during the disruption and reassured them that the application process can now continue smoothly without further issues.
Students can reapply for loans, we’ve resolved BVN verification glitch – NELFUND
News
Obasanjo reveals how Abdulsalami almost awarded $280m telecom deal for $3m to friends
Obasanjo reveals how Abdulsalami almost awarded $280m telecom deal for $3m to friends
Former President, Olusegun Obasanjo, has recounted how the former military Head of State, Gen. Abdulsalami Abubakar (retd), almost shortchanged Nigeria in a lucrative telecommunications deal.
Obasanjo revealed that Abdulsalami almost robbed Nigeria of a $280 million deal during nation’s transition to mobile telecommunications.
Obasanjo said when Nigeria was about to make the switch from landline telephones to mobile phones, some major telecommunication companies approached the country and promised to provide mobile lines for the citizenry, but Abubakar wanted to award the deal to his friends for $3 million.
The former President, however, said he suggested that the contract be made public for investors to bid and the highest bidder was awarded the contract, leading to the $280 million sale.
He made the revelation at the launch of a book titled ‘The Catalyst: Nigerian ICT Evolution through a Journalist’s lens,’ authored by an immediate past Editor of The PUNCH Newspapers, Mr Dayo Oketola, in Lagos.
He also disclosed that he was able to get Etisalat to pay $450 million to get the licence to operate in Nigeria.
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Speaking at the event, Obasanjo said: “The story of telecommunications, particularly mobile telecommunication, is a very interesting one. Before mobile telecommunication, we had spent a lot of money, we had all sorts of companies invited from America, France and even from Britain, but we did not get more than 500,000 lines. People had to queue at the telephone kiosk to call their loved ones abroad. And then, of course, the mobile telephone age came in.
“When it came in, my predecessor in office was trying to give it away, I think, to their friend for $3 million. Then we said, what we would do was to auction it. The three that came in first, I think, paid $280 million for the line. $280 million for something about to be given away for $3 million. That was the first thing we did. Not only that, we achieved competition.
“The three of them were competing. And, of course, the one that had the upper hand in terms of spread, I think, was MTN, followed by Glo. And then, there was Econet. They are now Airtel. And then, of course, later on, we had the fourth one, Etisalat. When Etisalat came, I told them the last one we did was $280 million. We told Etisalat to pay $450 million. They did.
“When they paid $450 million, the ball went in the post and then we were playing. That was how we got money to do what we did at the time we did it. That opportunity can still be made available. The money to develop Nigeria is out there, but that money will not come in unless we create a conducive atmosphere for that money to come in.
“What we did or what Nigeria has done in the good days when things were going well, are still there and can still be done today only if we put ourselves and we are honest to ourselves. We have to show character and attitude.”
Obasanjo reveals how Abdulsalami almost awarded $280m telecom deal for $3m to friends
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