The federal government yesterday declared that compared to other nations of the World, Nigeria ranks low in terms of the level of implementation of World Bank-and other donor-funded projects.
This is just as the World Bank in a report released yesterday revealed that about 2.4 billion women of working age are not afforded equal economic opportunity and 178 countries maintain legal barriers that prevent their full economic participation.
According to the federal government, an in-depth review of the level of implementation of the entire development projects revealed that delays in the execution of donor-funded projects stemmed from factors including bureaucratic bottlenecks, capacity challenges, political interference and challenges associated with obtaining varied and misaligned approval processes between local authorities and development partners.
The Minister of Finance, Budget and National Planning, Mrs. Zainab, who made the disclosure in Lagos, stated that notwithstanding efforts and resources committed in procuring development financing for critical sectors of the economy to boost human capital development, improve infrastructure and service delivery as well as strengthen governance and institutions, Nigeria appeared not to have made the desired progress in this direction.
She observed that one of the critical sources of funds for the execution of key projects in Nigeria was through donor-financing, especially from multilateral bodies such as the World Bank and the African Development Bank (AfDB).
In a keynote address she presented at a retreat for members of the National Assembly on the, “process optimisation of donor-financed projects in Nigeria,” Ahmed said her ministry organised the retreated based on the desire and strong conviction as a ministry saddled with the responsibility of managing the country’s financial inflows and outflows, to deliver planned projects for sustained growth and national development.
She said it was noteworthy that one of the critical sources of funds for the execution of key projects in Nigeria was through donor-financing, especially, from multilateral bodies such as the World Bank and the African Development Bank.
However, the minister regretted that notwithstanding the efforts and resources committed in procuring development financing for critical sectors of the economy to boost human capital development, improve infrastructure and service delivery as well as strengthen governance and institutions, the country appears not to have made the desired progress in this direction.
She pointed out that much still remained to be streamlined, noting that it was important to mention that when borrowed funds fail to be properly utilised, and to deliver on planned development objectives, growth is impaired and economic development distorted.
She explained that an in-depth review of the level of implementation of the entire development projects showed that delays in execution of donor-funded projects stemmed from factors such as red tape, capacity challenges, political interference and challenges associated with obtaining varied and misaligned approval processes between local authorities and development partners.
Accordingly, Ahmed pointed out that Nigeria ranks low compared to other nations of the world in terms of the level of implementation of World Bank-funded projects.
She stated: “It is public knowledge that there have been increased public agitations against rising foreign debts levels.
“This has put immense pressure on government to ensure prudent management of resources, and improve transparency and accountability in the utilization of funds from donor agencies for maximum positive impact on the economy.”
The minister said it was against this backdrop that she constituted a Taskforce on Disbursement in Donor-Funded Projects in Nigeria.
According to her, the term of reference (ToR) of the task force was to evaluate, review and chart a fresh course to significantly increase disbursement levels in donor-financed projects in the country.
She stressed that the task force was to also work with relevant stakeholders to facilitate various approval processes for donor-assisted projects before final approval from the National Assembly.
Ahmed added that the retreat organized by her ministry for the chairmen and members of the two relevant committees of the National Assembly was in furtherance of efforts towards unraveling the challenges associated with the implementation of donor-financed projects with a view to evolving ways to improve execution levels for national growth and development.
According to the just-released World Bank’s Women, Business and the Law (WBL) 2022 report, women in 186 countries face some form of job restriction and 95 countries do not guarantee equal pay for equal work, the report stated.
The Middle East and North Africa and Sub-Saharan Africa regions showed the largest improvements in the WBL Index in 2021, though they continue to lag behind other parts of the world overall.
Gabon stood out with comprehensive reforms to its civil code and the enactment of a law on the elimination of violence against women as its score rose from 57.5 in 2020 to 82.5 in 2021.
The report noted that while Nigeria has made some progress in socio-economic terms in recent years, human capital development remained weak due to under-investment, and important challenges in terms of oil dependency, governance issues, weak infrastructure, and gender equality.
“Women in Nigeria face gaps in economic empowerment and challenges to the exercise of voice and agency. When women are given same opportunities as men, they enter and remain in the labour force, strengthening economies and enabling development.
“Gender equality is also associated with better development outcomes, such as lower rates of vulnerable employment and extreme poverty among female workers,” the report stated.
Nigeria was scored 63.1 out of 100 on the Women, Business and the Law index, indicating that although progress had been made, there was more work to be done.
The score was below both the regional average for Sub-Saharan Africa (71.0) and the global average (76.1).
“The current score can be attributed to the limited progress made on legal reforms recoded by Women, Business and the Law over the last 50 years,” the report added.
According to the World Bank report, globally, women still have only three quarters of the legal rights afforded to men — an aggregate score of 76.5 out of a possible 100, which denotes complete legal parity.
However, despite the disproportionate effect on women’s lives and livelihood from the global pandemic, 23 countries reformed their laws in 2021 to take much-needed steps towards advancing women’s economic inclusion, according to the report.
“While progress has been made, the gap between men’s and women’s expected lifetime earnings globally is US$172 trillion – nearly two times the world’s annual GDP.
“As we move forward to achieve green, resilient and inclusive development, governments need to accelerate the pace of legal reforms so that women can realize their full potential and benefit fully and equally,” World Bank Managing Director of Development Policy and Partnerships, Mari Pangestu said.
Women, Business and the Law 2022 measures laws and regulations across 190 countries in eight areas impacting women’s economic participation – mobility, workplace, pay, marriage, parenthood, entrepreneurship, assets, and pensions.
The data offer objective and measurable benchmarks for global progress toward gender equality.
Just 12 countries, all part of the Organization for Economic Cooperation and Development (OECD), have legal gender parity.
New in this year’s WBL is a 95-country pilot survey of laws governing childcare — a critical area where support is needed for women to succeed in paid employment.
A pilot analysis of how laws affecting women’s economic empowerment are actually implemented is also included, highlighting the difference between laws on the books and the reality experienced by women.
Globally, the highest number of reforms were made in the Parenthood, Pay, and Workplace indicators.
Many reforms focused on protecting against sexual harassment in employment, prohibiting gender discrimination, increasing paid leave for new parents, and removing job restrictions for women.
The Pay and Parenthood indicators have the lowest average scores in the index, but they have increased in the last year, rising 0.9 and 0.7 points, respectively, with average scores of 68.7 and 55.6.
The gains in the Parenthood indicator have largely been around paternity leave and shared parental leave, but the low score highlights the need to accelerate reforms in this area.
“Women cannot achieve equality in the workplace if they are on an unequal footing at home.
“That means leveling the playing field and ensuring that having children doesn’t mean women are excluded from full participation in the economy and realizing their hopes and ambitions, said Senior Vice President and Chief Economist of the World Bank Group, Carmen Reinhart.
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