World Bank Disburses $1.5 Billion Loan to Nigeria Amid Economic Reforms
Subsidy Removal, Tax Reforms Among Conditions for Loan Approval The World Bank has disbursed a $1.5 billion loan to Nigeria...
Nigeria Secures $6.45bn in World Bank Loans Under Tinubu’s Administration, Raising Debt Concerns
The Federal Government of Nigeria, under President Bola Tinubu, has secured loans totaling $6.45 billion from the World Bank within...
Nominee Declines CBN Board Position Due to World Bank Commitments
Urum Kalu Eke, a proposed member for the Central Bank of Nigeria’s Board of Directors, has declined the nomination due...
Nigerian Naira Among Worst-Performing Currencies In Africa – World Bank
In a recent report published by the World Bank, Nigeria’s national currency, the naira, has been labeled one of the...
World Bank Urges Nigerian Government to Allocate Fuel Subsidy Savings to Alleviate Suffering
The World Bank has called on the Federal Government of Nigeria to reallocate a portion of the savings from fuel...
World Bank Predicts N2 Trillion Savings for Nigeria as Petrol Subsidy Removal Takes Effect
In its June 2023 Nigeria Development Update released on Tuesday in Abuja, the World Bank has projected that the Federal...
Diaspora Remittances To Nigeria In 8 Years Hit $168bn – World Bank
Nigerians in the diaspora have remitted $168.33 billion in eight years, a report by the World Bank has revealed.
Russia Considers Challenging US Nominee for World Bank Head
Russia is reportedly consulting with its allies about challenging the US nominee for the head of the World Bank, which could complicate the smooth succession process. Roman Marshavin, the executive director representing Russia and Syria, confirmed that they are still in the process of listing potential candidates and consultations with other countries are ongoing. Learn more about Russia's plan to challenge Ajay Banga's nomination for the World Bank head and how it could expose simmering tensions between the US, Western nations, and China.
Rising Borrowing Costs, Others Threat To Nigeria’s Fiscal Position – W’Bank
The World Bank has said that rising borrowing costs, reduced growth in oil production subdued oil-sector activity will weaken Nigeria’s fiscal position.
World Bank Urges CBN To Adopt Single Forex Market
The world bank has urged the Central Bank of Nigeria to adopt a single-market reflective exchange rate, OduNews reports.
World Bank Approves $311m For Renewable Energy Project In West Africa
The world bank has approved $311 million to increase grid-connected renewable energy capacity in west Africa, OduNews reports.
World Bank Blacklists Nigerian Companies, Individuals Over Corruption
The World Bank has banned five Nigerian companies and individuals from benefiting from its contract for corrupt practices.
Interswitch, World Bank Unveil Global Payment Innovation Report
Interswitch Group has unveiled the 2022 Global Payment innovation Jury report with support from The World Bank and Global Processing Services (GPS).
World Bank Cuts Africa’s Economic Growth To 3.3%
The world bank says Africa's economy is on the negative slope over local and global headwinds that have resulted in rising inflation.
Interest Rate Increase Will Lead To Recession – World Bank To FG
The World Bank has warned Nigeria and other developing countries against increasing their interest rates as such could lead to recession.
Elumelu Expresses Worry Over Imminent Global Recession
Chairman of United Bank of Africa (UBA) Plc, Tony Elumelu, has expressed his worry about the impacts of an imminent global recession.
Nigeria Gets $700m World Bank Climate Action Fund
The World Bank has disbursed $700 million to Nigeria as part of its $31.7 billion climate financing fund in its 2022 fiscal year.
World Bank To Help Nigeria Phase Out Subsidy
President of the World Bank Group David Malpas says the bank will help Nigeria in phasing out fuel subsidy by increasing social assistance to the poor and vulnerable.
Climate Resilience: World Bank Donates $385m To Africa
World Bank on Thursday said it provided 385 million dollars in International Development Association (IDA) financing, to Horn of Africa...
World Bank To Disburse $700 Million To Crisis-Hit Sri Lanka
The World Bank is planning to disburse $ 700 million to crisis-ridden Sri Lanka by re-purposing its existing loans, a...