Sunday, January 11, 2026
  • Who’sWho Africa AWARDS
  • About TimeAfrica Magazine
  • Contact Us
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
No Result
View All Result
  • Home
  • WHO’SWHO AWARDS
  • News
  • Magazine
  • World News

Home » News » Nigeria Seeks Fresh $500m World Bank Loan For Dam Safety, Others

Nigeria Seeks Fresh $500m World Bank Loan For Dam Safety, Others

July 30, 2024
in News
0
542
SHARES
Share on FacebookShare on Twitter

In a bid to enhance water resource management and improve dam safety nationwide, the Federal Government of Nigeria has put forward a request for a $500m loan from the World Bank.

The loan is aimed at tackling water security challenges in the country and bolstering agricultural productivity under the Sustainable Power and Irrigation for Nigeria Project. Outlined in a Project Information Document by the World Bank, the SPIN project will zero in on important focus areas such as institutional strengthening, irrigation modernization, dam operations and safety enhancements, as well as project management.

The planned approval date for the SPIN project is set for September 26, 2024.

Efforts will be concentrated on fortifying federal and state bodies responsible for water resource management. This includes formulating national dam safety guidelines, providing training for water resources and irrigation management, and devising an exhaustive hydropower master plan.

ReadAlso

Nyash, Abeg, Biko, Amala, Other Nigerian Words Added to the Oxford Dictionary

Trump signals possible follow-up air strikes in Nigeria

According to the document, Nigeria is grappling with water security obstacles affecting water availability for various purposes like drinking, energy, and food production. These challenges are further exacerbated by climate change, posing threats to livelihoods and economic progress. Improved water storage and dam safety are vital for climate change adaptation and mitigation in Nigeria, crucial for enhancing water management for irrigation, hydropower generation, and safeguarding against floods and droughts.

The nation currently harbors over 400 dams with an estimated combined storage capacity of 59 billion cubic meters. A significant portion of these dams, particularly large ones constructed in the 1970s and 80s, requires rehabilitation due to inadequate funding, human resources, and capacity for effective dam management, operation, and maintenance at both federal and state levels.

ADVERTISEMENT

The document also highlighted the critical need for rehabilitating numerous dams within the country, emphasizing the urgency following the destructive 2022 floods that resulted in an estimated $6.7n in economic losses. As part of the project’s second phase, the Federal Government intends to revamp and modernize 40,000 hectares of irrigated land while empowering Water User Associations to efficiently manage irrigation schemes. The third phase will prioritize the rehabilitation and safety enhancement of key dams by conducting risk assessments, devising emergency action plans, and implementing structural safety upgrades.

The final phase aims to ensure effective project execution, monitoring, and evaluation, involving the establishment of a Federal Project Management Unit and Technical Units at both federal and state levels.

Tags: NigeriaWorld Bank
ADVERTISEMENT
Previous Post

Ethiopian Airlines reports double-digit rise in revenue

Next Post

Mexico Increases Detentions of Illegal Immigrants by 200%

You MayAlso Like

News

Hollywood couple gain Guinean citizenship after tracing ancestry to West African country

January 11, 2026
News

Nyash, Abeg, Biko, Amala, Other Nigerian Words Added to the Oxford Dictionary

January 9, 2026
signals possible follow-up strikes in Nigeria after Christmas Day air attack in the north-west. / Reuters
News

Trump signals possible follow-up air strikes in Nigeria

January 9, 2026
News

High Court dismisses appeal over alleged unlawful installation of ‘king’

January 8, 2026
News

African Union demands revocation of Israel’s Somaliland recognition

January 7, 2026
News

Burkina Faso Foils Another Assassination Plot Targeting Ibrahim Traoré

January 7, 2026
Next Post

Mexico Increases Detentions of Illegal Immigrants by 200%

SEBIS 2024: Remaking South East, As Economic Powerhouse | By Dr. Ifedi Okwenna

Discussion about this post

ETF 2026:  Inside Enugu’s Race to Become Africa’s Tech Mecca

ADC mobilises in Delta, targets 2.3 million members

Nigeria 2–0 Algeria: Tactical Mastery and Decisive Execution

Nyash, Abeg, Biko, Amala, Other Nigerian Words Added to the Oxford Dictionary

32-Year-Old Man Dies After Jumping 1,000 Feet From South Africa’s Table Mountain

Divorced: Bill Gates gives ex-wife $8bn

  • ETF 2026:  Inside Enugu’s Race to Become Africa’s Tech Mecca

    543 shares
    Share 217 Tweet 136
  • ADC mobilises in Delta, targets 2.3 million members

    542 shares
    Share 217 Tweet 136
  • Nigeria 2–0 Algeria: Tactical Mastery and Decisive Execution

    542 shares
    Share 217 Tweet 136
  • Nyash, Abeg, Biko, Amala, Other Nigerian Words Added to the Oxford Dictionary

    545 shares
    Share 218 Tweet 136
  • 32-Year-Old Man Dies After Jumping 1,000 Feet From South Africa’s Table Mountain

    541 shares
    Share 216 Tweet 135
  • Trending
  • Comments
  • Latest

ETF 2026:  Inside Enugu’s Race to Become Africa’s Tech Mecca

January 11, 2026

ADC mobilises in Delta, targets 2.3 million members

January 11, 2026

Nigeria 2–0 Algeria: Tactical Mastery and Decisive Execution

January 10, 2026

Nyash, Abeg, Biko, Amala, Other Nigerian Words Added to the Oxford Dictionary

January 9, 2026

ETF 2026:  Inside Enugu’s Race to Become Africa’s Tech Mecca

January 11, 2026

Hollywood couple gain Guinean citizenship after tracing ancestry to West African country

January 11, 2026

32-Year-Old Man Dies After Jumping 1,000 Feet From South Africa’s Table Mountain

January 11, 2026

ADC mobilises in Delta, targets 2.3 million members

January 11, 2026

ABOUT US

Time Africa Magazine

TIMEAFRICA MAGAZINE is an African Magazine with a culture of excellence; a magazine without peer. Nearly a third of its readers hold advanced degrees and include novelists, … READ MORE >>

SECTIONS

  • Aviation
  • Column
  • Crime
  • Europe
  • Featured
  • Gallery
  • Health
  • Interviews
  • Israel-Hamas
  • Lifestyle
  • Magazine
  • Middle-East
  • News
  • Politics
  • Press Release
  • Russia-Ukraine
  • Science
  • Special Report
  • Sports
  • TV/Radio
  • UAE
  • UK
  • US
  • World News

Useful Links

  • AllAfrica
  • Channel Africa
  • El Khabar
  • The Guardian
  • Cairo Live
  • Le Republicain
  • Magazine: 9771144975608
  • Subscribe to TIMEAFRICA MAGAZINE biweekly news magazine

    Enjoy handpicked stories from around African continent,
    delivered anywhere in the world

    Subscribe

    • About TimeAfrica Magazine
    • Privacy Policy
    • Contact Us
    • WHO’SWHO AWARDS

    © Copyright TimeAfrica Magazine Limited 2026 - All rights reserved.

    No Result
    View All Result
    • WHO’SWHO AWARDS
    • Politics
    • Column
    • Interviews
    • Gallery
    • Lifestyle
    • Special Report
    • Sports
    • TV/Radio
    • Aviation
    • Health
    • Science
    • World News

    © Copyright TimeAfrica Magazine Limited 2026 - All rights reserved.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.