Business
Kwara boosts primary healthcare service delivery with World Bank IMPACT project funds
Joel Ajayi
Kwara State Primary Health Care Development Agency (KWSPHCDA) has given an update on the funds utilisation of the World Bank Immunisation Plus and Malaria Progress by Accelerating Coverage and Transforming Services (IMPACTS) Project.
This followed the disbursement of funds after the development of investment plans by each benefitting Primary Health Care (PHC) Center across the state, based on needs assessment carried out before commencement of the project.
Each benefitting PHC in the state received a total of N4.6m in the World Bank-assisted project to upgrade their facilities and purchase equipment that will strengthen basic healthcare services at the grassroots.
“We are excited to report that our PHCs have commenced the execution of the IMPACTS project with facility upgrades, purchase of equipment, and other items as spelt out in their various investment plan and needs assessment. Some of the items already purchased include: laboratory equipment in 193 PHCs; 30 ultrasound scan machines; 73 outreach tricycles; 186 outreach motorcycles; 186 desktop computers; and also 72 boreholes have been sunk” according to a press statement by the KWSPHCDA.
“Based on their investment plans approved by the World Bank, these PHCs would also begin some minor renovation to improve the PHCs to further meet basic minimum standards. The funds were sent directly to the accounts of each PHC. What the PHCs do with their funds vary and are based on their needs as captured in their investment plans”
The state had qualified for the World Bank IMPACTS programme on account of its investments in the basic healthcare sector, meeting some minimum criteria as well as payment of a state counterpart funds.
Kwara State, which had also recently won the National award as the state best in primary healthcare in the entire central Nigeria, continues to improve peoples’ confidence in the health system. This is evidenced by the total number of deliveries that doubled in 2023 compared to 2020, just as 422,631 women attended antenatal in our hospitals compared to 94,276 in the year 2020 based on the information from the DHIS2 platform.
The World Bank IMPACTS project would continue to be implemented alongside several State interventions as well as other projects like the Basic Health Care Provision Funds (BHCPF) to reduce infant, maternal mortality, and improve PHC services in the State.
Business
NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit
By Joel Ajayi
The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.
For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.
Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).
The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.
According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.
Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.
Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.
With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.
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