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A Kenyan commercial motorcycle rider, also known as Bodaboda operator, was brutally stabbed to death by his wife. It was gathered that the young man met his death in their home in Rongai after he returned with less money than usual. According to an eyewitness reports, the deceased came back from his work, and the wife discovered that he earned significantly less due to heavy rainfall affecting business. This led to a serious confrontation from his wife. She reminded him about the household items that were finished and demanded that he provide the money. When he was unable to do so, an argument erupted between them. In a fit of unreasonable rage, she rushed to the kitchen to grab a knife. Sensing the imminent danger, the Bodaboda operator attempted to flee but slipped and fell on the floor. The wife then stabbed him in the chest, ending his life instantly. By the time neighbours arrived, it was too late; he was already dead. At the time of this report, the wife had fled the scene but she is now arrested by the police and the police promised that she will be charged to court this week. Source: https://wikigists.com/wife-stbs-okada-husband-to-death-for-bringing-less-money-home/ 7 5  |
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In a bid to tackle pressing economic challenges, Nigeria has secured a $500 million loan from the World Bank to support its Community Action for Resilience and Economic Stimulus Program. [/b]The approval, confirmed on March 28, 2025, is expected to provide critical relief to vulnerable households and small businesses grappling with inflation, food insecurity, and economic instability. The initiative, which focuses on grassroots-level interventions, aims to strengthen community resilience by delivering targeted grants and livelihood support to low-income families and firms. [b]It also seeks to improve food security and create economic opportunities for populations most affected by recent economic disruptions. grin According to the World Bank, the program represents a significant step toward addressing systemic vulnerabilities in Nigeria’s economy. By channeling resources directly to underserved communities, the project hopes to alleviate the burden of rising living costs while fostering sustainable growth. The 500 million loan is not the only financial commitment Nigeria anticipates this week. Two additional funding packages are in the pipeline, awaiting final approval. One of the loans, valued at 80 million, will focus on accelerating nutrition outcomes across the country. grin The second, worth approximately $552 million, is designed to enhance access to quality basic education nationwide. Both projects are scheduled for final clearance on March 31, 2025. cheesy These loans are part of the World Bank’s broader strategy to support Nigeria’s development priorities, particularly in areas such as healthcare, education, and poverty alleviation. The institution has emphasized the importance of implementing these programs efficiently to ensure maximum impact. While the loans aim to address urgent socio-economic needs, Nigeria’s rising debt profile has raised concerns among stakeholders. Under President Bola Tinubu’s leadership, the country has received approvals for 11 World Bank projects totaling 7.45 billion in less than two years. However, data from the Debt Management Office (DMO) reveal that only 774.99 million (about 16% of the approved amount) had been disbursed as of July 31, 2024. This slow pace of disbursement has sparked debates about the efficiency of project execution and fund utilization. Currently, Nigeria owes the World Bank 17.32 billion, with 16.84 billion owed to the International Development Association (IDA), representing 39.14% of the nation’s total external debt. Another $485.08 million is owed to the International Bank for Reconstruction and Development (IBRD), accounting for 1.13% of external obligations. Experts warn that without improved transparency and accountability in managing these funds, the intended benefits may not materialize. coolThey urge the government to prioritize timely implementation and ensure that borrowed resources translate into tangible improvements for Nigerians. As the country navigates its economic recovery efforts, the success of these initiatives will depend heavily on effective planning, coordination, and execution. For now, all eyes remain on how these new loans will be utilized to deliver lasting change. https://businessday.ng/news/article/nigeria-secures-500-million-world-bank-loan-to-boost-economic-resilience/ 3 1  |