$86m Kebbi Ethanol Biofuel Project picks up soon – Official
Sama’ila Yombe-Dabai, Kebbi State Deputy Governor, said that the state’s Ethanol Biofuel Project, which would gulp $86 million, will soon take off.
- $86m Kebbi Ethanol Biofuel Project picks up soon – Official
- FG completes 64 road interventions in federal tertiary institutions – Fashola
- Curacel raises $3m seed funding to boost insurance operation in Africa
- IMF revises Congo’s 2022 growth up to 8.5%, rebel conflict a concern
- David Malpass, World Bank President to step down
Yombe-Dabai made the disclosure on Wednesday to the press about the new development on the state of the modular refinery project, which is to be cited at Danko Wasagu in Zuru Emirate.
The state government had five years ago constituted a team, chaired by Professor Muhammad Abubakar-Ka’oje, to come up with modalities for achieving the project.
The modular refinery project, which is a joint project financed by the Kebbi State Government, the Nigeria National Petroleum Company (NNPC) Limited, and 3D High-tech System, is expected to produce biofuel from cassava cultivated in the area.
The deputy governor said: “This meeting is prompted by the gigantic step we have achieved as far as efforts being made by His Excellency, Sen. Abubakar Atiku Bagudu, is concerned.”
Read also: Fossil fuel emissions could peak globally by 2025 Rystad Energy
FG completes 64 road interventions in federal tertiary institutions – Fashola
Babatunde Fashola, the Minister of Works and Housing, who was represented by the Controller of Works, the Federal Ministry of Works and Housing in Ebonyi, disclosed on Wednesday that the Federal Government has successfully intervened in 64 internal roads across federal tertiary institutions in the country.
Fashola made this disclosure while inaugurating a two-kilometre road rehabilitated by the federal government at the Akanu Ibiam Federal Polytechnic, Unwana, Ebonyi.
“Presently, there are 38 ongoing projects across the country at various stages of completion.
“It is true that lots of work are needed in many sectors of the country including education but President Muhammadu Buhari’s administration has stepped processes of doing them.
“The gap of our infrastructural needs is steadily being bridged through gradual repairs, renewal and construction on major highways with schools inclusive,” he said.
Curacel raises $3m seed funding to boost insurance operation in Africa
Henry Mascot, the Chief Executive Officer of Curacel, an insurance infrastructure provider, disclosed on Wednesday that the company has raised $3 million in seed funding to roll out new technology solutions designed to power the next generation of insurance experiences in Africa.
Mascot revealed this in a statement by its public relations company, Drum Communications, in Lagos.
According to him, the new funding will support the company’s expansion into North Africa.
Mascot, also a co-founder, said the firm was bullish in its efforts to ensure the right technology was in the right places and to close the protection gap across Africa and emerging markets.
“It is an exciting time for us as we secure the capital to deliver the vision and onboard the people who have built these technologies at scale in more mature markets.
“We are looking forward to delivering more technology solutions to drive up insurance inclusion,” the CEO said.
IMF revises Congo’s 2022 growth up to 8.5%, rebel conflict a concern
The Democratic Republic of Congo’s GDP growth has been revised upwards to 8.5 percent in 2022 on the back of stronger production in the mining sector, the International Monetary Fund (IMF) said on Wednesday.
The Fund, which had forecast GDP growth at 6.6 percent in 2022 in a December report, said in its latest report that preliminary data had shown “significantly stronger real GDP growth in 2022 than previously anticipated.”
Following a week-long visit by its staff to Kinshasa, the IMF projected growth at 8 percent this year but warned of downside risks from the armed conflict to the country’s east.
A rebel group known as the M23 staged a major offensive in eastern Congo last year, adding to decades of militia violence in the central African country’s mineral-rich provinces. (Reuters)
David Malpass, World Bank President to step down
David Malpass, president of the World Bank, announced on Wednesday that he would step down by the end of June from his position.
“After a good deal of thought, I’ve decided to pursue new challenges,” the 66-year-old was quoted as saying in a statement from the bank, having informed its board of his decision.
“This is an opportunity for a smooth leadership transition as the Bank Group works to meet increasing global challenges,” Malpass added.
As head of the development lender, he managed several global crises, such as the COVID-19 pandemic and the Russian invasion of Ukraine, as well as an international economic slowdown.
The bank said in a statement that it has “responded quickly” in the face of these challenges, in particular mobilising a record $440 billion in response to the pandemic.
“Under his leadership, the Bank Group more than doubled its climate finance to developing countries, reaching a record $32 billion last year,” the statement added, referring to Malpass. (AFP)
