World bank pledges N256m to boost employment in Nigeria

The World Bank says it will disburse 159.5 million dollars (about N256m) on growth and employment projects in Nigeria before the spring of 2017.

This is contained in a World Bank report titled “Fostering Transformational Development in Nigeria'', released in Abuja on Friday.

The project is aimed at addressing the gaps that prevent key growth centres from expanding and supporting small and medium enterprises to develop new business models.

“It also aims at improving business enabling environment,'' the report said.

According to the report, over 500 enterprises and artisans have benefited from interventions in the meat, leather and construction sectors funded by DFID.

“Key preparatory activities have included the development of stakeholders networks, especially in the entertainment and ICT.

“Policy development has also been supported,'' it added.

It noted that the August 2010 “job summit'' had helped identify new ways for government to support targeted sectors.