In the last three years, over N1.3 trillion was borrowed by the Federal Government to finance the operations of generation companies and gas suppliers. The loan...
The World Bank has revealed that soaring inflation has driven an estimated seven million Nigerians into poverty in 2020 alone. This was contained in its development...
The World Bank on Tuesday raised Nigeria’s economic growth projection for 2021 to 1.8 percent, up from the previous 1.1 percent projection. The Bretton Wood institution...
Despite the fact that a greater share of the global population gained access to electricity than ever before in the last decade, Nigeria still lags behind...
The World Bank on Thursday approved a $700 million loan for Nigeria’s Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene Programme (SURWASH). In a statement...
Over the next five years, the World Bank Group has revealed plans to invest and mobilize $150 billion to support Africa’s growth. However, a large portion...
International Monetary Fund said the Nigerian government and other African countries would have to borrow more funds, or increase taxes in order to meet spending needs...
A World Bank report on migration and development has revealed that Nigeria received over 40 per cent of sub-Saharan Africa’s share of remitances totalling $540 billion....
The Nigerian Bureau of Statistics (NBS) has accused Nigeria’s Minister of Labour and Employment, Chris Ngige, of lying in a statement attributed to the World Bank...
The Federal Government on Sunday slammed evidence contained in a report by the World Bank on distribution of electricity in Nigeria. Ripples Nigeria had reported that...
Nigeria and many more countries are likely to receive another COVID-19 relief support as the World Bank president, David Malpass, said extension of debt service is...
The World Bank has stated that Nigeria made an early exit out of recession than projected in its October 2020 forecast for Sub-Saharan Africa (SSA). This...
The World Bank has upgraded its outlook on Sub-Saharan Africa GDP growth in 2021 from -5.1 per cent to 3.4 per cent growth after a two...
Nigeria and 18 other African countries would benefit from the World Bank’s 22.5 million dollars additional financing for the Regional Off-Grid Electricity Access Project (ROGEAP) in...
The Transmission Company of Nigeria (TCN) on Tuesday, March 9, said the ongoing projects being executed by the company would boost the national power grid by...
The World Bank, Adolescent Girls Initiative and Empowerment, will construct 90 junior secondary schools, 69 senior secondary schools and renovate 69 others in Kaduna to foster...
Socio-Economic Rights and Accountability Project (SERAP) has urged the World Bank President Mr David Malpass “to exercise the Bank’s prerogative to release archival records and documents...
World Bank Senior Economist, Gloria Joseph-Raji, has said Nigerian government’s inability to curb economic challenges will make 15 to 20 million Nigerians poorer by 2022. Joseph-Raji...
The Federal Government has said that the number of out-of-school children in the country reduced from 10.1 million in 2019 to 6.9 million in 2020. The...
Nigeria, alongside 11 other African countries will get over $5 billion investment, over the next five years from the World Bank, to help restore degraded landscapes,...
Nigeria and other developing economies as well as emerging markets will likely report a 5% growth this year even though output is expected to be subdued...
The World Bank said on Tuesday a weak fiscal base, poor investments and a host of other factors would speed up a subdued growth in the...
The World Bank has approved a $1.5 billion budget-support facility for Nigeria to help build a resilient recovery post COVID-19. “Nigeria is at a critical juncture....
Former presidential running mate of the Peoples Democratic Party (PDP), Peter Obi, in response to the latest report released by the World Bank on Nigeria’s projected...
The World Bank will Monday review an application for a total sum of $1.5 billion by Nigerian states. Shubham Chaudhuri, World Bank’s country director for Nigeria,...
An average Nigerian might witness a reversal of decades of economic growth and the country might slip into its worst depression since the 1980s in the...
The Nigerian government has met the precedent conditions for a $1.5 billion budget-support credit from the World Bank and, in so doing, approaches the consummation of...
Nigeria’s per capita income, which gauges the average sum of money earned per person in the country, may touch its weakest level in four decades as...
As the Nigerian government ponders over where to borrow its next loan, in few weeks, another round of external debt repayment for matured loans put at ...
Nigeria’s diaspora remittances could fall by $2 billion or 8.4% to $21.7 billion in 2020 relative to the $23.8 billion recorded in 2019, the World Bank...
Nigerian states will get $2 million each from the World Bank in grant to help them update their property records provided they succeed in capturing at...
The World Bank is in talks with the International Monetary Fund (IMF) with a view to offering debt reduction to Nigeria and other member countries of...
The chairman of the African Union commission, Moussa Faki Mahamat, has declared that Nigeria’s former finance minister Ngozi Okonjo-Iweala is “by far the best qualified candidate...
The World Bank has said Nigeria’s removal of fuel subsidy is a crucial decision taken in the face of the coronavirus crisis. It observed in its...
Nigeria, Africa’s biggest country by population with more than 200 million people, now has the largest concentration of the most indigent people in sub-Saharan Africa at...
The Central Bank of Nigeria (CBN) must ramp up actions to reduce pressure on the currency market to meet ballooning demand for hard currency in Nigeria,...
The National Economic Council (NEC) said on Thursday 16 states had so far received N100 million grant each from the World Bank to ease the impact...
The World Bank plans to give states in Nigeria $2.5 million each as performance-based grants provided they execute tax relief schemes for individuals and business owners...
The World Bank has approved $114.28 million financing to help Nigeria prevent, detect and respond to the threat posed by COVID-19 with a specific focus on...
The World Bank has declared 36 companies and individuals ineligible to to be awarded any World Bank financed contract for a period of time for going...
The World Bank Wednesday said it had consented to a $500 million credit at the behest of the International Development Association, which provides loans and grants...
The World Bank Thursday revealed that around 42% of the Nigeria’s workforce lost their jobs between March and June following the shutdown of the economy in...
Five million Nigerians are at risk of being impoverished as the coronavirus outbreak sparks off the worst recession in Africa’s largest economy since the 1980s, the...
The World Bank has endorsed a $750 million loan through the International Development Association for Nigeria’s Power Sector Recovery Operation to transform the country’s power supply....
The World Bank has announced the approval of $346m for two projects targeted at strengthening resilience and livelihoods in the Lake Chad region, comprising of Nigeria,...
Nigeria will know its fate regarding a new $1.5 billion credit facility request from the World Bank in late July as it seeks funds to deal...
Nigerian government’s earnings from oil and gas sector dwindled by N125.52 billion in the first quarter of this year as oil receipts came in trickles into...
The Minister of Finance, Budget and National Planning, Zainab Ahmed, said on Thursday the World Bank had proposed the disbursement of $1.5 billion to states as...
A consortium of multilateral institutions that includes the World Bank, the International Monetary Fund (IMF), the Paris Club and the G20 have agreed to grant a...
Sub-Saharan Africa’s Gross Domestic Product (GDP) will encounter contraction of between 2.1% and 5.1% in 2020 and slide into recession, its worst show in a quarter...