The Federal Government of Nigeria has secured the biggest share of the $65bn (N27tn) funding from the World Bank’s International Development Association to African countries. This was as the international organisation unveiled the 20th replenishment package, IDA-20, in Dakar, the Senegalese capital, to help low-income countries respond to the COVID-19 crisis and build more resilient economies. According to a statement signed by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, 70 per cent ($65bn) of the entire package which amounted to $93bn (N38tn), will be channelled to various African states with the largest share being allocated to Nigeria. The statement is titled ‘At Dakar summit, Nigeria gets a big slice of IDA financial package’. The President, Major General Muhammadu Buhari (retd.), who joined other African leaders in Dakar, said the “largest financial package ever mobilized in the history of the IDA” will prioritize some key areas such as: Agriculture and Food Security, Human Capital, Climate Change Adaptation, Bridging the Gender Gap, Job Creation, Digital and Technological Innovation, among others.”

Punch