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World Bank Donates $8.5bn To Fund Agriculture, Education, Others In Nigeria

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The World Bank has committed $8.5 billion to Nigeria to fund critical issues ranging from agriculture to education.

Disclosing this on Thursday in Abuja during a summit organised by the Emergency Coordination Center, the World Bank Country Director to Nigeria, Shubham Chaudhuri, noted that the amount was the largest of any country.

He noted that it was still infinitesimal compared with the needs of Nigeria, stressing, however, that around $2.5 billion to $3 billion of the fund had been channelled towards education.

“Half of the population of Nigeria itself is less than 17 years old. This means there is a need to invest in human capital development,” he said.

He noted that the future of Nigeria depended on the ability of the young people to go to school , stressing that it was important to make schools safe to ensure that fewer children were out of school.

He further said it was Nigeria’s call to determine how it would mobilise its financial resources to enable young Nigerians to go to school or whether its scarce resources would be used to subsidise petrol with over N6.5 trillion.

Africa’s most populous nation is mobilising N6.7 trillion for petrol subsidies at the expense of education and health. About 10.1 million children are out of school, according to the education ministry, but a report suggests it is up to 18.5 million.

Analysts have described Nigeria’s insistence on subsidies as financial indiscipline, noting that it would have adverse consequences on the Nigerian economy.

For Professor Jonathan Aremu, a former CBN Assistant Director and Senior Lecturer at Covenant University, subsidy distorted the market, making it difficult for products to find their real value.

“In economics, subsidy is always bad. Yes, quite a lot of people depend on fuel, which is why they have continued to subsidise petrol, but we don’t know how much is really spent on subsidy.”

He explained that the next government should not just remove subsidies, but also provide incentives that would alleviate the sufferings of Nigerians.

Professor of Energy Economics at Nnamdi Azikiwe University, Uche Nwogwugwu, said the removal of subsidy would be a step in the right direction.

However, he said removing petrol subsidy at the moment would cause untold hardship and social unrest for Nigerians, suggesting an alternative route Nigeria could take.

“It’s completely true that the burden is weighing and will continue to weigh on the economy. Some discrete facts are here to help save the country.

“The PIA has made NNPC a limited liability company that can seek profit. This is a good base for solving the subsidy. It is acknowledged that the nation has been subsidising consumption and now she wants to channel to production. Expanding the market locus to include neighboring countries of Cameroon, Ghana, Niger, Mali and Sudan where it is sold for about N300- N400 equivalent per liter will recoup all monies and also bring profit.

“It will also completely eradicate the activities of smugglers. Under Africa free trade charter, NNPC can sell to neighboring countries while giving the nation a breathing gap to solve the domestic disequilibria,” he suggested, noting that this could enable the country to fix the subsidy imbroglio.

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COALITION: Peter Obi Will Be Expelled From Labour Party — Arabambi

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The Labour Party has announced its intention to expel former presidential candidate Peter Obi over his participation in an opposition coalition seeking to remove President Bola Tinubu.

During a live appearance on Channels Television’s The Morning Brief on Tuesday, a party chieftain, Abayomi Arabambi, said Obi’s involvement with the coalition while remaining a Labour Party member was “unconstitutional” and “unacceptable.”

“Let me make it very clear: we are convening a NEC [National Executive Council] meeting where he [Obi] will be expelled. It is unconstitutional for you to belong to two political parties at a time. They have deceived him to their side, and there he shall remain,” Arabambi said.

He explained that the NEC would recommend Obi’s expulsion, which would then be formally approved at the party’s convention in line with its constitution.

“Obi will be expelled from our party. He is no longer a member. It is not within his right to claim, ‘I am still a member of the Labour Party,’ and at the same time be hobnobbing with what we call the ‘yahoo yahoo’ coalition. We are not going to accept that,” he said.

In a critical statement, Arabambi rejected claims that Obi was responsible for the Labour Party’s rise, saying, “I want to correct a very wrong notion—Obi did not make the Labour Party; the Labour Party made Peter Obi. It was just a chance of circumstance because of the #EndSARS protests and the failings of past administrations. Nigerians were simply tired.”

He insisted that it was the party’s credibility that gave Obi the platform that elevated his political image in 2023.

“It’s because of our own integrity. That was what gave Obi what he is today. He should be banking on our goodwill, not the other way around. He started the crisis in the Labour Party,” he said.

Arabambi also accused Obi of having an authoritarian approach, saying, “If he can fight party members to do his will, then he is not fit to run the party.”

He emphasized that the Labour Party had only one recognized leadership, stating, “Let me also make it clear: we do not have groups in the Labour Party. We have only one leadership under Julius Abure, our national chairman.”

Arabambi’s comments came after the Julius Abure-led faction of the Labour Party gave Obi a 48-hour deadline to formally resign from the party over his alleged “bromance” with the coalition.

In a statement dated 3 July, LP’s Obiora Ifoh said, “Labour Party is not part of the coalition. Therefore, any of our members who are part of the coalition are given within 48 hours to formally resign his membership of the party.

Labour Party is not available for people with dual agendas or deceptive personas. We will not allow individuals to have one leg in our party and the other elsewhere.”

Ifoh accused coalition members of being opportunistic politicians “interested in relaunching themselves into the circle of power.”

This situation arose after the opposition coalition met on Wednesday, 2 July, in Abuja, where the ADC was adopted as its platform for the 2027 elections.

The coalition appointed former Senate President David Mark as interim national chairman and former Osun governor Rauf Aregbesola as secretary.

The meeting was attended by many prominent politicians, including Atiku Abubakar, Nasir El-Rufai, Rotimi Amaechi, Dino Melaye, Dele Momodu, Gabriel Suswam, Ireti Kingibe, Emeka Ihedioha, and Sadique Abubakar—along with Obi.

 

Credit: Channels TV

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JUST IN: JAMB Sets 150 As Cut-Off Mark For Universities

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The Joint Admissions and Matriculation Board has approved 150 as the cut-off score for university admissions in the country.

The decision was reached on Tuesday during the 2025 Policy Meeting on Admissions, held at the Bola Ahmed Tinubu International Conference Centre in Abuja.

It also announced that the cut-off score for colleges of nursing is 140, while both colleges of agriculture and colleges of education have a cut-off score of 100.

“The minimum admissible scores for admissions for the next academic session have been fixed at 150 for universities, 100 for polytechnics, 100 for colleges of education, and 140 for colleges of nursing sciences by the stakeholders (Heads of Tertiary Institutions),” JAMB wrote on its X handle.

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Over 100 Killed In Texas Flood, Bodies Recovered As Search And Rescue Operations Continue

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The number of deaths from severe flooding in Texas climbed to more than 100 on Monday, as rescue teams continued their difficult search for individuals swept away by the rushing waters.

Among those who died were at least 27 girls and counsellors who were at a youth summer camp located by a river when the disaster struck during the Fourth of July holiday weekend.

Weather experts have cautioned about further flooding risks as rain continues to fall on already saturated ground, making recovery operations harder for the roughly 1,750 personnel involved, using helicopters, boats, and dogs.

“There is still a threat of heavy rain with the potential to cause flooding,” Texas Governor Greg Abbott stated on Monday, warning that the death toll could still increase.

President Donald Trump confirmed plans to visit Texas on Friday, as the White House pushed back against accusations that his administration’s cuts to weather agencies weakened the flood warnings.

“Blaming President Trump for these floods is a depraved lie, and it serves no purpose during this time of national mourning,” said Press Secretary Karoline Leavitt on Monday.

She noted that the National Weather Service, which The New York Times reported had several vacancies in Texas prior to the floods, issued “timely and precise forecasts and warnings.”

Trump described the floods that hit early Friday as a “100-year catastrophe” that “nobody expected.”

Although the president has previously argued that disaster relief should be handled by state governments, he signed a major disaster declaration to release federal funds and provide additional resources.

At least 104 deaths linked to the flooding have been reported throughout central Texas.

Kerr County, where the Guadalupe River flows, suffered the greatest losses, with at least 84 deaths reported, including 28 children, according to the local sheriff’s office.

Among the dead were 27 people who had been staying at Camp Mystic, an all-girls Christian camp hosting around 750 individuals when the floodwaters struck.

Camps are a cherished part of summer in the United States, with children often spending time in rural areas such as parks and woods.

Texas Senator Ted Cruz described the camps as opportunities to make “lifetime friends — and then suddenly it turns to tragedy.”

However, some locals have raised concerns about the lack of stronger flood-warning systems in this region of south and central Texas, often referred to as “Flash Flood Alley” due to its frequent and severe flooding.

Experts have emphasized that the NWS provided timely forecasts, while climate scientist Daniel Swain pointed to failures in “warning dissemination.”

San Antonio resident Nicole Wilson, who almost sent her daughters to Camp Mystic, launched a petition on Change.org urging Governor Greg Abbott to approve a modern warning system.

“Five minutes of that siren going off could have saved every single one of those children,” she told AFP.

During a candlelight vigil in San Antonio on Monday night, people gathered to pray for the victims and express ongoing concerns.

“I was pretty shocked on the gravity of the situation and how big it was, and I wouldn’t necessarily expect that our rivers would rise so quickly,” said Rebeca Gutierrez, 29.

“Hopefully there’s preventative efforts happening in similar areas to make sure nothing to this degree happens.”

In a devastating demonstration of nature’s force, the swollen Guadalupe River rose to the level of treetops and cabin roofs while girls were sleeping inside the camp.

Blankets, teddy bears, and other personal items were left coated in mud.

Cabin windows were smashed, likely from the powerful water currents.

Volunteers assisted in sifting through debris along the river, with some being driven by personal connections to the victims.

“We’re helping the parents of two of the missing children.

The last message they got was ‘We’re being washed away,’ and the phone went dead,” said Louis Deppe, 62, to AFP.

Several months’ worth of rainfall poured down in just a few hours from Thursday night into Friday, with additional rainfall since then.

The Guadalupe River surged by about 26 feet, roughly equivalent to a two-story building, within just 45 minutes.

Flash floods happen when the ground cannot absorb sudden heavy rainfall.

Human-induced climate change has intensified the frequency and severity of extreme weather events such as floods, droughts, and heatwaves in recent years.

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