Nigeria In One Minute
Nigeria may lose $80m World Bank job creation grant
There were indications on Tuesday that Nigeria might lose more than $80m in World Bank funding meant for strengthening the capacity of the country’s Small and Medium-scale Enterprises to create jobs.
The PUNCH’s investigation showed that squabbles and lack of cohesion among public officials had hampered the capacity of the country to disburse $160m secured from the World Bank to build the capacities of the SMEs in several sectors of the economy, including agriculture, manufacturing and information technology under the project tagged: Growth and Employment in States.
According to the World Bank, the objective of the GEMS project is to increase growth and employment in the participating states.
Under the project being supervised by Ministry of Finance and implemented by the Ministry of Industry, Trade and Investment, grants are given to deserving SMEs to support growth and employment.
The PUNCH, September 5, 2018
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