Economy
W/Bank approves $700m credit for water, sanitation, hygiene in Nigeria

The World Bank has approved a 700 million dollar credit for the Nigeria Sustainable Urban and Rural Water Supply, Sanitation and Hygiene Programme (SURWASH).
It made the announcement in a statement on its website in Washington D. C. on Thursday.
According to the statement, the credit will provide six million people with basic drinking water services and 1.4 million people access to improved sanitation services.
It would also deliver improved Water Sanitation and Hygiene (WASH) services to 2,000 schools and Health Care Facilities and assist 500 communities to achieve open defecation free status.
These would be implemented as part of the Federal Government’s National Action Plan (NAP) for the revitalisation of Nigeria’s water supply, sanitation and hygiene sector.
“In 2019, approximately 60 million Nigerians were living without access to basic drinking water services, 80 million without access to improved sanitation facilities and 167 million without access to a basic handwashing facility.
“In rural areas, 39 per cent of households lack access to at least, basic water supply services, while only half have access to improved sanitation and almost a third (29 per cent) practice open defecation, a fraction that has marginally changed since 1990,” said the statement.
The bank, however, said in recent years, the Federal Government had strengthened its commitment toward improving access to WASH services, spurred on by the need for Nigeria’s WASH sector to catch up with its regional counterparts.
This, it said, led to the government declaring a state of emergency in 2018 and launching NAP aimed at ensuring universal access to sustainable and safely managed WASH services by 2030, commensurate with the Sustainable Development Goals (SDGs).
It also said the programme would support NAP which was a 13-year strategy prioritising action within three phases.
They are Emergency Plan, Recovery Plan and Revitalisation Strategy and also the Clean Nigeria; Use the Toilet Campaign which aims to have Nigeria free of open defecation by 2025.
Mr Shubham Chaudhuri, World Bank Country Director for Nigeria, said the programme’s centrality to the human capital agenda and its potential to influence key human capital outcomes could not be overemphasised.
He said this was because access to WASH was an important determinant of human capital outcomes, including early childhood survival, nutrition, health, learning and women’s empowerment, all of which in turn affected labour productivity and efficiency.
“Participating states will be able to improve access to safe water, sanitation and hygiene.
“This will help to keep more girls in school, create employment and reduce open defecation, while developing greater resilience to the impact of climate change and conflicts between different land and water users,” he said.
The SURWASH programme is performance based and participation is open to all states in Nigeria based on their commitment to specific reforms in the sector.
It would support the Federal Government to enact necessary policy reforms and usher incentives for state and local governments, service providers, technical assistance providers and community-based organisations to effectively deliver sustainable services in the sector.
The bank said it would also support a package of investments to expand access to and increase the use of WASH services in urban, small towns and rural areas.
“Specifically, the programme will support the development of infrastructure to improve water supply service delivery, sanitation and hygiene in institutions (schools and healthcare facilities) and public places such as markets, motor parks and others,” said the bank.
The News Agency of Nigeria (NAN) reports that the 700 million dollar credit is from the bank’s International Development Association (IDA).
It is a body which helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty and improve poor people’s lives. (NAN)

Economy
Niger Delta Youth Turn down Calls for Protest against NDDC Management

The Niger Delta Youth Council (NDYC) Worldwide has rejected in strong terms, calls by the Coalition of Niger Delta Civil Society Organisations in conjunction with Ex-millitant Forum for a nationwide protest against leadership of Dr. Samuel Ubuku and Mr. Chiedu Ebie; Managing Director and Board Chairman of the Niger Delta Development Commission (NDDC) respectively.
The group in a letter addressed to President Bola Ahmed Tinubu accused the Managing Director of mismanagement, lopsided projects and contracts while calling for the sack of the Chairman of the Board whose appointment they claimed contravened the NDDC Act.
But the NDYC in a strongly worded rebuttal, signed by the trio of Engr.Jator Abido, Comr Collins Achakpekri and Engr. Beke Apere; National Coordinator, Director of International Relations, and Chairman Board of Trustees respectively, copies of which were made available to journalists in Abuja, debunking the allegations made against the NDDC management by persons they described as enemies of the region who want to slow the wheels of progress under the current NDDC leadership.
“It is utterly callous and blatant falsehood to cast the administration of Dr. Samuel Ubuku and Mr Chiedu Ebie in bad light simply because your selfish and parochial interests are not accommodated in the grand scheme of affairs at the Commission.
“For the records, those parading themselves as members of civil society organisations in the region and ex-agitators are ignorant of the challenges of the region and do not represent the true spirit of the Niger Delta. They’re an obscure bunch who are out to profit from the resources of the region without a genuine concern for its people.
“As true representatives of our people, we make bold to say that Dr. Samuel Ubuku remains the best NDDC Managing Director to have emerged since the creation of the Commission. He has carried everybody along in appointments and the distribution of projects. Anybody who feels otherwise is a saboteur and shouldn’t be taken seriously.
“It is also laughable that someone in their right thinking will question the appointment of a bona fide Niger Deltan into a Commision set up for the development of the region simply because the appointee does not come from a community that produces crude oil.
“This warped thinking doesn’t belong to the human specie and should be disregarded. Those who only seek to divide using parochial yardsticks and sentiments should not be dignified with a response. We, therefore, distance ourselves from such persons and want Nigerians to pay deaf ears to their rants”, the release stated.
The youth group finally vowed to resist attempt by sponsored goons to throw the region into needless crisis and pledged to mobilise their members across all the states that make up the region to stage a solidarity match for the NDDC management on the same day those opposed to the development of the region are planning their protest.
“As patriots and law abiding citizens who are desirous to see mass development in the Niger Delta region, we cannot fold our arms and watch a faceless few throw our region into crisis. We shall therefore mobilise in en masse to stage a solidarity match on the 27th of February to counter our enemies and tell the world the truth about our region”, the release concluded.
Banking
Wema Bank unveils 80th Anniversary Identity

In preparation for its 80th anniversary, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has unveiled the identity for its 80th anniversary celebration.
Set for Friday, May 2nd, 2025, this grand anniversary would serve as the hallmark of Wema Bank’s 80-year journey of unmatched resilience, profound impact and notable transformation from being Nigeria’s oldest indigenous bank to becoming Nigeria’s foremost and leading innovative bank.
Wema Bank’s impressive 80-year legacy has been one exemplified by immense growth, with the Bank evolving intelligently through the decades, embracing innovation to break new grounds and raising the standards of banking and financial services to provide an unparalleled experience for its customers and stakeholders, both internally and externally. Now on the cusp of its milestone celebration of 80 years, Wema Bank stands at its all-time strongest, proving to be a formidable force in the African financial services industry.
All eyes are peeled in anticipation of what Wema Bank will bring on in the coming weeks, as its 80th anniversary celebrations begin to unfold.
Economy
EPL: Chelsea’s Reece James Suffers Fresh Hamstring Injury

Chelsea captain Reece James has been ruled out of Saturday’s Premier League match against Leicester City due to a hamstring injury.
The setback comes just weeks after James returned to action in October, following an earlier injury that kept him out at the start of the season. Chelsea manager Enzo Maresca confirmed the news on Thursday, expressing hope that the issue won’t result in a long-term absence.
“Reece felt something minor in his hamstring, and we don’t want to take any chances this weekend,” Maresca said. “Hopefully, it’s nothing serious, but he’ll need to sit out while we assess further.”
James, 24, has struggled with injuries over the past two seasons, raising concerns about his fitness. Despite this, Maresca remains optimistic that the England international will eventually move past his injury struggles.
Chelsea’s injury woes extend beyond James, with doubts also surrounding the fitness of Romeo Lavia, Malo Gusto, Wesley Fofana, and Jadon Sancho. Cole Palmer and Levi Colwill recently withdrew from England duty due to fitness issues, further compounding the club’s challenges.
This weekend’s fixture marks Maresca’s return to Leicester City, a club he led to Championship promotion last season before joining Chelsea. Reflecting on his time at Leicester, Maresca described it as a “fantastic season” and expressed gratitude for the connections formed with players and staff.
Chelsea fans will be hoping for a swift recovery for James and other key players as the team looks to stabilize its campaign.
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