The United Bank for Africa (UBA) ranks as the second place in SME banking and third in retail banking in the West Africa Banking Industry Customer Experience Survey.

The bank has impressed its customers since its progress from 2023, it jumped from the 14th position and is now in the 2nd position.

Oliver Alawuba, UBA’s Group Managing Director and CEO stated “This recognition is a testament to our ability to turn aspirations into achievements and challenges into victories.”

“At the heart of this success lies our unwavering commitment to the Customer First (C1st) philosophy. It is not just a slogan but the essence of who we are.”

The National Tomato Growers, Processors and Marketers Association of Nigeria (NATPAN) requests the Federal Government to reduce post-harvest losses of the produce.

The chairman of NATPAN, Rabiu Zuntu stated on Tuesday that the government inference will cut down the post-harvest losses.

“Most farmers cannot afford loans for this equipment to aid reduction of post-harvest losses because they are smallholder farmers. The government can help tomato farmers reduce post-harvest losses by coming to their aid with interventions.”

“With the use of plastic crates for the transportation of tomatoes from one part of Nigeria to the other, the rate of post-harvest losses will be reduced.”

The World Bank, based in Washington, has highlighted that inefficient public spending is draining a significant portion of investments in Nigeria and other developing nations.

This revelation comes from the bank’s latest report, titled “How Can Developing Countries Power Up Public Investment?”

The report is a critical issue: over one-third of public investment in emerging markets and developing economies is wasted due to inefficiencies.

This not only stunts economic growth but also hampers overall development potential.

In some extreme cases, it results in costly “white elephant” projects, which yield minimal economic benefits despite their high costs.

These projects further jeopardize a country’s sovereign risk and debt sustainability.

According to the World Bank, improving government spending efficiency is key to fully reaping the rewards of public investments.

It is estimated that the inefficiency of public spending in emerging markets and developing economies (EMDEs) is much higher compared to advanced economies.

Factors such as regulatory obstacles, corruption, and institutional shortcomings often contribute to the creation of lower-quality projects that fail to generate the intended benefits.

To address these challenges, the World Bank recommends that developing countries strengthen public spending practices by embracing transparency in procurement processes and ensuring robust monitoring of projects.

Such measures could significantly improve the impact of public investments.

In Nigeria, the urgency of improving investments is palpable.

Wale Edun, the country’s finance minister, recently emphasized that Nigeria requires an annual investment of $20 billion to achieve its ambitious target of reaching a $1 trillion economy by 2030.