RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

World Bank Extends Nigeria’s Digital Identification Project Deadline Amid Missed Targets

Stephen Akudike by Stephen Akudike
July 2, 2024
in Economy
Reading Time: 2 mins read
A A
0
World Bank Extends Nigeria’s Digital Identification Project Deadline Amid Missed Targets
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The World Bank is restructuring its Nigeria Digital Identification for Development (ID4D) project, extending the deadline to 2026 after the initial June 30, 2024, closure date passed without meeting key targets. Despite significant progress, Nigeria failed to enroll 148 million people for a National Identification Number (NIN), prompting the extension to ensure the project’s success and continued financing from partners.

The Nigeria Digital Identification for Development (ID4D) project, funded by the World Bank, the French Development Agency (AFD), and the European Investment Bank (EIB), aims to enhance Nigeria’s digital identity infrastructure. Initially set to close on June 30, 2024, the project faced several setbacks, including missing the goal of enrolling 148 million people for NINs.

AlsoRead

Nigeria’s Foreign Reserves Rise by $551 Million in Three Weeks

Is the World Underestimating Nigeria?

Dangote Refinery Reduces Aviation Fuel Price to N1,650 per Litre

Challenges and Missed Targets
Despite considerable efforts, Nigeria’s enrollment numbers fell short of expectations. Key components of the project, such as the Automated Biometric Identification System (ABIS), reached full capacity at 80 million records, necessitating an upgrade to handle 250 million enrollments. Technical benchmarks under Component 2, aimed at strengthening the resilience and security of the Nigeria Identity Management System (NIMS), also experienced delays.

Extension and Restructuring
To ensure continuity and secure the full $430 million funding, the World Bank has extended the project’s closure date to June 30, 2026. This extension allows for the completion of crucial upgrades and the incorporation of changes reflecting Nigeria’s current priorities. Certain activities under the restructured project, such as collaborations on digitized civil registration and the development of new mechanisms for continuous digital birth registration, will be canceled.

Financing and Conditions
So far, the World Bank has disbursed $45.5 million, approximately 10.5% of the project’s total cost. Two of the three conditions for full disbursement have been met: the enactment of a data protection law and improvements to the NIMS. The final condition, amending the NIMC Act to ensure an inclusive legal framework, is pending approval by the National Assembly.

Future Focus
With the project’s extension, the focus will shift to enhancing the capacity of the NIMS and ensuring the issuance of NINs within Nigeria. The project also aims to increase NIN enrollment in rural areas and train government personnel in best practices for legal and regulatory environments concerning foundational ID and data protection.

Bottom Line

The restructuring and extension of the ID4D project underscore the World Bank’s commitment to improving Nigeria’s digital identity infrastructure. By addressing the current challenges and realigning project goals with Nigeria’s priorities, the World Bank aims to foster transparency, efficiency, and effectiveness in governance and public service delivery. The successful completion of this project is crucial for Nigeria’s digital future, ensuring that millions of citizens gain access to essential digital services.

Tags: #NigeriaDigital IdentificationID4DNINWorld Bank
Previous Post

Crypto Industry Losses from Hacks Drop by Over 50% in June 2024

Next Post

Diaspora Remittances: Costs for Sending Money to Sub-Saharan Africa Rise to 7.9% – World Bank

Related News

Naira depreciates to N755/$ in the parallel market.

Nigeria’s Foreign Reserves Rise by $551 Million in Three Weeks

by Jide Omodele
May 25, 2026
0

Nigeria’s external reserves have recorded a notable recovery in May 2026, climbing by approximately $551 million within the first three...

Exploring the data on multidimensional and monetary poverty in Nigeria.

Is the World Underestimating Nigeria?

by Stephen Akudike
May 21, 2026
0

For years, conversations about the future of global power have sounded familiar. China. The United States. India. Perhaps the European...

Airlines Implement Time-Saving Strategies for More Efficient Operations

Dangote Refinery Reduces Aviation Fuel Price to N1,650 per Litre

by Akpan Edidong
May 21, 2026
0

Dangote Petroleum Refinery & Petrochemicals has announced a significant reduction in the price of Jet A1 (aviation fuel), slashing it...

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Denies Heavy Intervention in FX Market, Highlights Minimal Participation

by Jide Omodele
May 21, 2026
0

The Central Bank of Nigeria (CBN) has refuted allegations of aggressive intervention in the foreign exchange market, insisting that its...

Next Post
Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

Diaspora Remittances: Costs for Sending Money to Sub-Saharan Africa Rise to 7.9% - World Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airlines Implement Time-Saving Strategies for More Efficient Operations

FAAN Engages International Airlines on Improved Airport Operations and Passenger Experience

May 25, 2026
FMDQ Exchange Records N21.70 Trillion Secondary Market Turnover in October

FMDQ Turnover Hits $180.85 Billion as Trading Volume Surge

May 25, 2026

Popular Story

  • Nigeria’s Debt to China Surges by $800 Million in One Year

    31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • The Dollar Rose To Its Highest in Nearly Three Years Versus The Yen

    0 shares
    Share 0 Tweet 0
  • Stock market reverses gaining streak as index drops by 0.4%

    0 shares
    Share 0 Tweet 0
  • President Tinubu Vows to Recover Nigeria from Vested Interests.

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Import Bill for Used Vehicles Drops by 83% in H1 2024

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>