- The World Bank has stated that it will begin the registration of Nigerians for national digital IDs
- The World Bank Country Director for Nigeria, Shubham Chaudhuri, said the bank plans to partner with NIMC for the provision of the IDs
- The Minister of Communication and Digital Economy, Bosun Tijani, said the Nigerian government has gotten half a billion dollars for local businesses
Shubham Chaudhuri, the World Bank Country Director for Nigeria, has announced plans to partner with the National Identity Management Commission (NIMC) to ensure the successful registration and rollout of digital national IDs for all Nigerians.
The target is to provide 148 million people of working age with digital Identity by mid-2024 to mark an essential step towards inclusion and accessibility.
World Bank to provide digital infrastructure for Nigerians
Chaudhuri disclosed this at a dinner with the Ministry of Communications and Digital Economy in Abuja on Friday, August 25, 2023.
PAY ATTENTION: Share your outstanding story with our editors! Please reach us through email@example.com!
Punch reported that Chaudhuri revealed the organization’s commitment to ending poverty, improving lives, and creating job opportunities for the country’s young population.
The Country Director for the World Bank stated the essence of leveraging technology to boost transformation and revealed two critical areas of collaboration with Nigeria to achieve the goals.
According to him, the mission of the World Bank in Nigeria is to end poverty, make lives better, and create jobs for all Nigerian youth.
He said one of the areas of collaboration is the provision of digital technologies as a transformation tool, beginning with the provision of digital national ID.
Chaudhuri said the bank will work with NIMC to ensure the registration rollout so that the over 200 million Nigerians will have a national digital ID, starting with people of working age and targeting at least 148 million people by mid-2023.
Also, the bank wants to help Nigeria to lead a broadband infrastructure connectivity to enable and bridge the digital divide.
Per the World Bank Country Director, the bank will work with states to reduce the right-of-way fees for fiber optic cables.
Nigeria to provide $500 million to entrepreneurs in Nigeria
The Communications and Digital Economy minister, Bosun Tijani, said the Nigerian government could access about half a billion dollars to begin a local funding programme.
Tijani said the initiative would enhance innovation and entrepreneurship within Nigeria’s digital sector.
“So we’ve got access to about half a billion dollars to start local funding.”
He added that by domestic funding, the government wants to promote the growth and development of homegrown enterprises, eventually contributing to the country’s economic progress.
Tinaji assured Nigerians that the half a billion dollars announced for local financing is the beginning, stressing that more investors be onboarded to increase funds available to support Nigerian entrepreneurs.
CBN Begins implementation of National Domestic Scheme January 16, to unify payments in Nigeria
The CBN, in partnership with the Nigeria Inter-Bank Settlement System (NIBBS), said the scheme will unify payments in Nigeria and bring in the unbanked population.
The card is also expected to rival big industry players such as Mastercard and Visa.