World Bank: COVID-19 to push five million more Nigerians into poverty in 2020
By CNBC
08 July 2020 |
7:09 am
The World Bank says the outbreak of the COVID-19 pandemic is expected to push five million more Nigerians into poverty this year as the pandemic is threatening the ability of Nigerian households to generate income to meet their basic consumption needs. Bismarck Rewane, CEO of Financial Derivatives joins me from Lagos for this conversation.
Related
27 Jun 2021
A new report on terrorist activity in the EU has highlighted the threat of online propaganda during the pandemic. The research shows Islamist and far-right extremists have posed the greatest threat.
27 Aug 2021
As Afghan civilian life continues to suffer following the Taliban's takeover, the World Bank is the latest international organisation to suspend dispersements of development funds to the country. This, as western governments increase pressure on the insurgents by squeezing their cash flows, while negotiating a safe exit for people wanting to leave. Also, the "naked baby boy", on the iconic cover of Nirvana's 1991 album "Nevermind", sues the band and record labels for child sexual exploitation.
8 Oct 2021
African economies are due to emerge from recession this year, but their recoveries remain fragile, according to the World Bank's Africa's Pulse report. Axel van Trotsenburg, Managing Director of Operations at the World Bank, tells FRANCE 24 that rising inflation has led to more food insecurity across Africa. He wants the Covid-19 vaccine rollout to be accelerated in order to get 40 percent of the continent fully vaccinated by the end of the year.
7 Oct 2021
African economies are due to emerge from recession this year, but their recoveries remain fragile, according to the World Bank's Africa's Pulse report. Axel van Trotsenburg, Managing Director of Operations at the World Bank, tells FRANCE 24 that rising inflation has led to more food insecurity across Africa. He wants the Covid-19 vaccine rollout to be accelerated in order to get 40 percent of the continent fully vaccinated by the end of the year.
19 Oct 2021
Amnesty said that many governments had used the pandemic as an opportunity to further restrict freedom of expression. It also cited the role of social media in the spread of misinformation.
1 Dec 2021
The World Bank is backing Nigeria’s quest to get rid of fuel subsidy. The Country Director of the World Bank Shubham Chaudhuri, who led his team on a courtesy visit to The Guardian Group on Tuesday, November 30, explained why fuel subsidy is not sustainable. Chaudhuri, nevertheless, advised the Nigerian government to build consensus before its scheduled removal of the controversial subsidy policy.
12 Jan 2022
As COVID-19 continues to harm economies globally, it's the developing and emerging economies that are suffering most says the lender's Franziska Lieselotte Ohnsorg.
4 Feb 2022
With one of the highest vaccination rates in the world, Spain is looking at an exit strategy from the pandemic. Its government says it's time to start treating COVID-19 like any other endemic seasonal respiratory disease. DW's Jan-Philipp Scholz reports.
16 Feb 2022
Developing economies were hit hardest by the global economic recession brought by the pandemic. A looming debt crisis could make things much worse, according to a new report.
26 Mar 2022
Baky Meïté is a former captain of the Ivory Coast rugby team. Back in the spring of 2020, he put his rugby career on hold to work as a janitor in a geriatric hospital in Paris. He has now published a book, "Les Chiffons Bleus", as a tribute to his former colleagues who appear somewhat forgotten today. He joined us for Perspective.
18 May 2022
Ethiopia has agreed a reconstruction and recovery grant with the World Bank, to be used to rebuild basic services in conflict-hit regions of the country.
8 Jun 2022
The agency has warned of the risk of 1970s-style stagflation persisting in the coming years amid soaring commodity prices and low growth. Developing countries are expected to be some of the worst hit.
Latest
3 hours ago
In a bold stride towards the cosmos, the concept of settling on Mars is no longer just a flight of fancy. A number of ambitious plans for Martian travel and colonisation are underway, but first, why not simulate the conditions on Earth?
3 hours ago
The mental health industry has been growing in India as awareness increases. But many who don't fit into social norms say their experiences seeking help have left them feeling invalidated.
4 hours ago
In Syria, the Islamic State group stands accused of executing a series of attacks targeting truffle hunters. Truffles, or 'sand truffles' as they're commonly known, grow in the desert and have become a sought-after commodity. FRANCE24's Observers team delved into this issue. Journalist Mahmoud Naffakh provides further insights.
4 hours ago
On World No Tobacco Day, we examine e-cigarettes, which are capturing a growing share of the market. Professionals in the sector insist that e-cigarettes facilitate the process of quitting smoking, even going so far as to claim that it's beneficial for public health overall. However, it's important to note that vaping can become an addiction in its own right.
5 hours ago
Leaders of the European Political Community — all European states with the exception of Russia and Belarus — are meeting in Moldova to discuss strategy over the conflict in neighboring Ukraine.
5 hours ago
Sudan's army suspended talks with a rival paramilitary force on Wednesday over a ceasefire and aid access, raising fears the six-week-old conflict will push Africa's third largest country deeper into a humanitarian crisis.