Economy
Why CSOs Call On World Bank To Stop Financing Factory Farming
Why CSOs Call On World Bank To Stop Financing Factory Farming
The worldwide planned actions aim to spotlight the continued use of public funds to support large-scale industrial livestock production.
More than 30 civil society organisations have called on the World Bank Group to stop financing industrial livestock production and redirect funds to sustainable, small-scale food systems that protect people, animals, and the planet.
This call comes as part of a coordinated global mobilisation across 25 countries during the World Bank and International Finance Corporation Spring Meeting, according to a statement by World Animal Protection on Wednesday.
The worldwide planned actions aim to spotlight the continued use of public funds to support large-scale industrial livestock production, an approach widely linked to climate change, biodiversity loss, public health risks, and growing food insecurity.
Globally, the World Bank Group invested approximately $1.4 billion in industrial livestock production between 2023 and 2024 alone. Its private sector arm, the International Finance Corporation, approved 38 industrial livestock investments worth nearly $2 billion between 2020 and 2025.
“Sub-Saharan Africa is a significant recipient. A 2023 white paper by the Stop Financing Factory Farming Campaign (S3F) revealed that the region received 22 animal agriculture projects of 62 projects across developing regions, valued at approximately $1.395 billion, accounting for 41.9% of the $3.3 billion in total direct support from development finance institutions, including the World Bank Group.
“These figures highlight the region’s share of global financing flows into industrial animal agriculture and raise concerns about the long-term impacts on rural livelihoods, ecosystems, and climate resilience across Africa.
“Despite growing concerns over the environmental and social costs of factory farming, the World Bank Group announced plans to expand its agribusiness portfolio to $9 billion annually by 2030. At the same time, the IFC is undertaking a once-in-a-decade review of its environmental and social Performance Standards, creating a pivotal opportunity to align public finance with climate commitments, biodiversity protection, and sustainable development goals,” the organisation stated.
WAP warned that continued investment in factory farming could undermine traditional African food systems, which are largely based on smallholder farmers who produce the majority of the continent’s food. Instead of strengthening food security, large-scale industrial livestock systems often concentrate wealth in a few individuals, increase environmental degradation, and expose communities to pollution and disease risks.

World Bank
Sally Kahiu, external affairs lead at WAP, said, “Africa’s food future depends on investments that strengthen smallholder farmers, protect ecosystems, and ensure long-term food security. Public funds should not be used to expand factory farming systems that threaten communities, animals, and the environment. We call on the World Bank Group to champion sustainable, locally driven food systems that truly support Africa’s development and resilience.”
Meanwhile, the Stop Financing Factory Farming Campaign continues to urge international financial institutions to adopt transparent policies that phase out funding for industrial livestock operations.
“Public finance should be a force for equitable development, not a driver of environmental harm and social exclusion,” said Opeyemi Elujulo, the executive director of Youth in Agroecology and Restoration Network and S3F Youth, Policy, and campaign lead.
Akwa Ibom
Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites
Akwa Ibom Governor Eno Commends Quality Job Delivery By Contractors At Project Sites
Governor Umo Eno has expressed satisfaction with the quality and timely delivery of jobs by contractors at different project sites in the State.
Fielding questions from Government House Correspondents shortly after his inspection of the projects, Governor Eno reaffirmed his administration’s commitment towards ensuring that projects are properly monitored and appropriately funded in line with the contract agreement.
He explained that the routine on-the spot inspection avails him the opportunity to carry out critical assessment of key projects, monitor project timeliness, staff welfare, pace and quality of job execution and funding approvals.
“Mine is to make sure that the work is going on, we get our money’s worth, ensure contractors are on site and that they are doing what they are supposed to do.
“This inspection, for me, is to give me an on-the spot assessment, monitor our time lines. Everywhere I went to, I can tell you that I am satisfied at the pace of work, and the quality of work done,” he stated.
The Governor thanked the contractors for their commitment to their jobs, and urged them to keep to timelines and specifications while prioritizing the safety and welfare of staff.
“I belief that the contractors know that we will demand that they do the work according to our specification.
“I am not just checking the work, I also check the staff, to ensure that everything is going on well. So when I get an IPC on my desk, I know exactly what that payment voucher is addressing. All of these works you see me inspect today, I have payment vouchers waiting for me to sign off.
“So, I have to come to see and be sure that they have reached certain levels before we can make the next set of payments.”

Akwa Ibom Governor Eno
Among projects inspected by the Governor were the Aviation Village, Legislators and Executive quarters at Dakkada Luxury Estate, Equipment Leasing Company, and the CNG Bus Terminal.
In the Governors team were the Secretary to the State Government, Prince Enobong Uwah, Executive Assistant/Chief Delivery Advisor, Mr. Aniefiok Johnson, members of the State Executive Council, and other government functionaries.
Economy
Tax Laws Will Boost Opportunities, End Poverty, Says Tinubu
Tax Laws Will Boost Opportunities, End Poverty, Says Tinubu
Mr Tinubu, who spoke at the commissioning of the 16-storey Nigeria Revenue Service (NRS) Headquarters in Abuja on Tuesday, assured Nigerians that the new reforms will deliver greater prosperity and inclusivity.
“On my inauguration day, I made a solemn pledge that we will move Nigerians from the dimness of uncertainty into the clear light of renewed hope. I committed to confronting structural weaknesses, restoring financial stability, and building an economy anchored in discipline, equity, and opportunity. Today, I stand before you to reaffirm that these words were not rhetoric; they were a covenant with the Nigerian people,” the president said.
Despite widespread criticism, especially from stakeholders, the Tinubu-led administration implemented the re-gazetted tax laws in January.
Mr Tinubu, who stated on Tuesday that the new tax system was designed to be people-centred and investment-friendly, explained that the laws were intended to liberate the economy from the constraints of archaic laws and make it more globally competitive.
While commending the Nigeria Revenue Service chairman, Zacch Adedeji, for his exceptional performance and the successful completion of the building, Mr Tinubu said no serious nation can achieve lasting prosperity on a weak and fragmented revenue system.
He added, “We are not gathered here merely to commission an edifice. We are here to mark a milestone in a larger national journey: the deliberate strengthening of our fiscal foundation and rebuilding of confidence in public institutions.
“No serious nation can achieve lasting prosperity on a weak and fragmented revenue system. No government can demand trust from its citizens when taxation is opaque, inefficient or unjust. That is why this administration took the bold decision to embark on far-reaching tax and fiscal reforms.”
The president further addressed concerns about the new tax reforms, assuring Nigerians of better performance by the revenue service.

President Tinubu
“The reforms are designed to simplify our system, eliminate distortions and create a fair, transparent and investment-friendly environment. Our direction is clear: to have a revenue system that rewards enterprise, supports growth, and ensures that every contribution to the national cause is matched by feasible value for the people.
“The early results are encouraging and fantastic. Mr Adedeji, thank you very much. We are witnessing improved fiscal stability, strength, stronger foreign reserves, a more efficient trade ecosystem and increased investor confidence in Nigeria’s economic direction,’’ Mr Tinubu said.
Economy
Peter Obi: Nigeria Collapsing, Divided Under Tinubu, May Drift into Anarchy If Re-Elected
Peter Obi: Nigeria Collapsing, Divided Under Tinubu, May Drift into Anarchy If Re-Elected
Former presidential candidate Peter Obi says Nigeria is collapsing and divided under President Bola Tinubu, warning the country may drift into a more devastating situation if he is reelected in 2027.
“The country is collapsing, and if you allow it to go further, it would be worse,” Mr Obi said during the African Democratic Congress convention in Abuja on Tuesday. “We need to work as a united Nigeria for the sake of Nigeria. The country is so divided, so we need unity. The present government has ensured that we remain more divided. Our unity is important.”
Mr Obi, who decried the high poverty rate under Mr Tinubu, further accused the All Progressives Congress-led government of excessive borrowing.
He added, “If you check your indices, when the present government came into being, our poverty rate was 41.6% and 8 million people. Today, we are 63% and 140 million people. So they have almost doubled that.
“When this government came into being, we removed the petroleum subsidy to stop borrowing for services and use the money to develop the country. Today, we are about 200 trillion in debt. Worse still, this government owes contractors; no projects of 2025 have been funded. We have a huge debt and have borrowed more.”
The former Anambra government said the country may descend into disaster, stressing the need for sacrifices among Nigerians.
“We are heading to disaster. I used these figures to show you we are drifting. We all have to work hard because anarchy consumes everybody. We must now sacrifice for the sake of our children. If we don’t do anything, what is happening will take revenge on our children and us,” Mr Obi stated.

Peter Obi
The presidency could not be reached for comment on Mr Obi’s latest allegations.
About 141 million Nigerians were projected to fall into abject poverty in 2026, as Nigeria’s poverty rate was projected to rise exponentially to 62 per cent this year, according to PricewaterhouseCoopers’ Nigeria Economic Outlook published in January.
The report revealed that the poverty rate, which stood at 59% in 2024, rose to 61% (139 million people) in 2025 and is expected to climb to 62% (141 million) in 2026.
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