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World Bank Compounds Nigeria's Woes, Offers Fresh $27m Facility

World Bank Compounds Nigeria's Woes, Offers Fresh $27m Facility

The World Bank may be compounding Nigeria's woes in the release of more funds that increase the country's debt burden at a time the cost of governance is getting higher while service delivery is on the decline. Budgets are having astronomical increase yearly, with devastating depreciation in development.

Again, the World Bank is at the verge of rolling out $27 million under the guise of reform incentives for Nigerian states that delivered on key changes.

Meanwhile, the visible changes in the reforms of government at all levels have been incremental hardship and deterioration of the standard of living of citizens, and a corresponding luxury expenditures of the political elite and their allies.

The National Coordinator of the HOPE Governance Programme, Dr. Assad Hassan, at a retreat of commissioners, permanent secretaries, and directors of budget and planning from the 36 states of the Federation, and the FCT, in Abuja, revealed that the World Bank, subtly bankrolling HOPE Governance Programme, has released $15 million to be shared by five states as performance-based rewards for emerging top performers in implementing critical education and healthcare reforms.

The Fund was identified to be domiciled in the Federal Ministry of Budget and Economic Planning. The Budget and Economic Planning Ministry had approved "$27 million in incentives for any state that met the Year Zero Disbursement-Linked Results benchmarks".

However, education and health are the most deteriorated sectors of governance that have diminished the welfare of Nigerian citizens. Public schools and healthcare facilities are not only neglected, but have been abandoned to visible vulnerability. Citizens have become more dependent on private schools to acquire education, private hospitals for medical care.

Apparently, the Hope Governance Programme performers states may have, at best, made ghost achievements.

In any case, the handlers indicated that reward is tied directly to an independent assessment. The Interim Independent Verification Agent reviewed how well each state implemented the programme’s Disbursement-Linked Indicators before the rewards were confirmed.

It was reaffirmed that the HOPE Governance Programme, domiciled in the Federal Ministry of Budget and Economic Planning, will disburse the $27 million to states that successfully achieved those Year Zero results.

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