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...
The World Bank Tuesday announced it had given Nigeria medical support in the sum of $82 million, its own bit of global institutions’ assistance to nations...
The World Bank’s Board of Executive Directors excluded Nigeria from the list of 25 countries that will benefit from its $1.9 billion first set of emergency...
African Ministers of Finance are seeking debt relief from international lenders to buffer the effects of COVID-19 on national economies within the continent. According to them,...
In a gesture aimed at relieving Nigeria and other members of the International Development Association (IDA) of their mounting debt burden, the World Bank and the International Monetary...
Six developmental initiatives estimated at $2.19 billion (N796 billion) were Wednesday unveiled by the World Bank Group, largely targeted at handing Nigeria’s rural poor a lifeline from...
Northern Nigeria produced 87% of Nigeria’s poor population in 2016, a recent report from the World Bank has said. The World Bank report titled “Advancing Social Protection...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities while not...
Nigeria’s debt to the World Bank soared from $8.51 billion (about N3.085 trillion) as of September 2018 to $9.81 billion (over N3.556 trillion) as at September...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities while not...
The Buhari Media Organisation (BMO) on Wednesday faulted the forecasts by the World Bank and the International Monetary Organisation (IMF) on Nigeria’s 2020 economic growth, which...
The World Bank has forecasted that the next three years will prove gloomy for Nigeria as growth in the real Gross Domestic Product (GDP) will stall...
The Buhari Media Organisation (BMO) has described the 2019 Nigeria economic update by World Bank as correct but an inconclusive analysis. BMO said the World Bank...
Given the lull and uncertainty in the global oil market at the moment, the World Bank Group has forecast the emergence of another recession in Nigeria....
The International Monetary Fund (IMF) on Wednesday for the third time this year, expressed concerns over the rising debt profile of Nigeria, saying that the debt...
A Senior Economist with the World Bank, Yue Man Lee, said on Saturday that Nigeria’s low revenue is restricting the government’s spending on human capital development....
Hello, it’s Sunday again. And, Business Wrap is upon us. Remember this serving is a featured post highlighting some of the major events that unfolded during...
President Muhammadu Buhari said Thursday that the strategies adopted by his administration in the ease of doing business in the country are working perfectly. The president...
World Bank’s Doing Business 2020 has ranked Nigeria 131 in overall ease of doing business. This is 15 places up from the 2019 spot. The World...
Emerging reports say that the World Bank has approved a $3 billion loan for Nigeria. The facility is intended to assist the country deal with its...
