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Nigeria to Receive $2.1 Billion from World Bank to Rebuild Boko Haram-Ravaged North East

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The World Bank is making plans to give Nigeria $2.1 billion to assist the country in rebuilding the North-East, which has been plagued by the Boko Haram insurgency.

Special Adviser to President Buhari on Media and Publicity, Femi Adesina, revealed the news via a statement, as reported by Channels TV.

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.

13 Comments

  1. Naijababeii

    July 22, 2015 at 10:00 am

    borrow moni repair north east and use oil revenue moni from ss pay back, is k we a watching

    • Professor X

      July 22, 2015 at 10:57 am

      Exactly! Because we know the Northeast will NOT be re-paying that loan. Other states should also consider a borrowing spree, since the FG pick up the tab if you cry enough.
      Meanwhile, we all know that probably only $100 million (out of the $2.1 billion) is actually going get to the Northeast.
      This international organizations no be for here: the RedCross can’t even account for $500 million raised for rebuilding efforts after the Haitian earthquake.

      Yes, this is what the country needs – more loans from the world bank! More debt to grow our economy.

      Also, do we need $300 million for immunization programs? I thought we (at least in the South) were already running effective immunization programs?

    • nnenne

      July 22, 2015 at 12:40 pm

      Am originally from Imo state. Believe me there’s oil in my village, but we don’t even have good roads. Don’t know who to blame.
      Let’s not rebuild North East alone or we will be encouraging another BH.

    • Omolara

      July 22, 2015 at 2:47 pm

      Are they ‘loans’ or is it ‘give’? Bella uses both interchangeably, and Greece will tell you very clearly that there is a big difference between give me money and loan me money (which accrues interest that needs to be serviced at a great expense to the country annually, etc). Dis Buhari will sell us to the West ooo. All the begging he did in U.S. and this is the best that could come out of it?

      Rebilding is NOT a priority until those regions are SAFE. All this borrow borrow make me rich is what put many European countries in the mess they are in. And I bet you they borrowed that money in dollars. With the rate naira is falling against the dollar, it will be so hard to repay the debt. God save Nigeria.

  2. Iris

    July 22, 2015 at 11:20 am

    ‘The World Bank has unfolded a package…The World Bank is eager to move quickly…’

    It’s like I woke up and it is the eighties again, only that time the ‘package’ was called Structural Adjustment. The government should sha not forget that the World Bank is a bank (aka loan shark) and not a development agency. Also, we are not Greece and they are not the EU. We will not be receiving extra grace for the sake of sentimentality and stability. I do not have a solution but this arrangement makes me uncomfortable.

    • nnenne

      July 22, 2015 at 12:43 pm

      @ ; I ris… A million kisses!

  3. Taipan

    July 22, 2015 at 11:44 am

    combat Boko haram 1st mr. man

  4. nene+

    July 22, 2015 at 12:26 pm

    Buhari must know so much about Boko haram to be in a haste to borrow $2.1 billion dollars to repair N. East when bombs are detonated daily killing scores.

    Shouldn’t the priority be to end the gun shots and deafening bomb blasts?

    This negotiation and and compensation of Boko haram is real! Buhari said he will negotiate with original Boko haram. Are you smelling cockroach?
    Buhari must know so much about this! A spoke person and middle man of BH!

    Buhari go and end insurgency before embarking to build NE!
    When will you borrow to build Bakasi indigene and resettle them?
    When will you rebuild Odi, Jos, Benue and the Niger Delta?
    Why are the governors and Northern leaders silent over violence that has been there for over 20 years I lived there with my family?

    Buhari I am pleased to have NE rebuilt but why in a haste to take loan before fighting Boko haram. Rebuilding takes time and not by fiat via loan!
    Wandering if Buhari would have been in a haste to build other part of Nigeria.

    This is why some of us wanted a new Nigerian devoid of ethnic bias to rule us but no thanks to BAT who felt old men accused of tribalism does it better. Buhari woke the tribal dust and we will leave with it for now.

    2.1 billion to be paid over 30 year?
    What happened to rebuilding the whole Nigeria?
    What does people of NW and NE do to houses used as Boko haram hide out? Is Obiano not destroying houses of kidnappers in the SE? Rebuilding NE, I will say buhari is too in a haste with this decision and looks suspicious. Cart is put before the horse.

    By the way who are his advisors and ghost ministers advising him? Sorry Nigeria! By the time buhari leaves our debt profile will be in trillions!

    • warizdiz

      July 22, 2015 at 2:02 pm

      You know, I was discussing this yesterday evening and the general consensus is that Nigeria is in trouble. Never hv a people be so deceived. Not becos the PDP administration was bad, but because of the volume of gullibility in the polity especially among young people. Those who witnessed Buhari in the eighties tell the story of a very weak, aloof head of state who fronted using the late Idiagbon. He took all the credit and Idiagbon took all the blame. Osinbajo is just a requirement by law. Buhari will “RULE” not lead alone. God forbid, if Buhari were to die toda like Yaradua. (I do not like Buhari but, l do not wish him dead before his time) Will the north allow Osinbajo to be President?

      Unfortunate today, the social media is awash with young people who have no sense of history. History has started to repeat itself. Buhari is unapologetically a notherner first before anything else. He will implement the northern agenda by hook or crook. Nigerians voted. There are too many criminals around Buhari. He is old and there is a limit to what he can personally oversee. The loan in question is not a gift. It will have to be paid back and at whose expense? In his desperate quest for power, the North caused havoc the like of which this country may never recover from.

      It will be interesting to see how this money will be spent and how the boys in the SS creeks react to this.

  5. Wale

    July 22, 2015 at 12:49 pm

    No wonder Shetimma cracked a smile…hope they put it to good use.

    • Professor X

      July 22, 2015 at 2:01 pm

      Lmao! Wale, you just made me laugh. You are still on the case of Shettima’s missing smile.

  6. hadiza ibrahim

    July 22, 2015 at 3:48 pm

    July 22,2015 3:45 pm
    May the good Lord deliver Nigeria from the impending trouble,

  7. flip23

    July 22, 2015 at 3:52 pm

    I don’t think the North East needs rebuilding at this point in time. What is needed is tackling Boko Haram and reorientation of the prevalent way of thought in the region. More education on tolerance and less on fundamentalist Sharia and Islam. What ever is built now will surely be destroyed all over again. It is like a cycle that never ends.

    There is a reason why the Northern part of the country is still by and large extremely underdeveloped , Even when you compare it to the Eastern part of the country, that suffered so much damage following the civil war. The answer is a mixture of extreme religion, a total disregard for education, and intolerance. Girls deemed not valuable enough to attend school, recurrent violence at the drop of a pin ( lets not forget at the beginning of the Boko Haram scourge a lot of northern leaders refused to condemn the attacks because they were directed at non-Muslim and people who they felt shouldn’t be in the North in the first place. Never eat with the devil)

    Deal with the important issues first, then we can start rebuilding, i am all for rebuilding, but at the right time. This is the time for clearing those Boko Haram trash out.

    On another note we as Nigerians have to take a course on “togetherness”. This way of thinking that since it is happening in the north ” na them know, no be my concern, na them do themsef” has to stop if we are to grow.

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