Business: W’bank Commits $8.5bn To Nigeria, Faults N6.7tn Subsidy

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The World Bank has committed $8.5 billion to Nigeria to fund critical issues, ranging from agriculture to education.

Disclosing this in Abuja during a summit organized by the Emergency Coordination Centre, the World Bank Country Director to Nigeria, Shu-bham Chau-dhuri, noted that the amount was the largest of any country.

He noted that it was still infini-tesimal compared with the needs of Nigeria, stressing, however, that around $2.5 billion to $3 billion of the fund had been channeled towards education.