World Bank

Nigeria’s debt level of N121.67trn remains within safe limits, says DMO

In spite of the increase in Nigeria’s total debt stock from N97.34 trillion in December 2023 to N121.67 trillion in March 2024, the...

Nigeria’s foreign exchange reserves up by 5 percent to $33.58bln

Nigeria’s foreign exchange (FX) reserves have increased by five percent in the last two months, amounting to $33.58 billion. The latest development is...

FG seeks $500m loan World Bank for rural road infrastructure

The Federal Government has requested a loan of $500 million from the World Bank to improve rural roads and enhance agricultural marketing nationwide....

World Bank approves $2.25bln loan to support Tinubu’s economic reforms

The World Bank has approved a total of $2.25 billion in loans for Nigeria to help stabilise its economy, the Minister of Finance...

Presidency debunks claims of disbursing N135bln for COVID-19 to governors in 2023

The Presidency has debunked claims by Mr. Femi Falana (SAN) that President Bola Tinubu approved the disbursement of N135 billion to governors for...

Broadband expansion: World Bank, Nigeria to raise $3bln – Tijani

Nigeria and the World Bank are collaborating to raise $3 billion for the construction of additional internet infrastructure and expansion in the country,...

At least 600m Africans will remain without electricity by 2030 – World Bank

Nearly 600 million people in Africa are likely to remain without electricity by 2030 as the continent continues to grapple with electricity deprivation,...

World Bank projects Borno, Kaduna, five other northern states to face severe food crisis in 2024

At least seven states across the Northwest and Northeast parts of Nigeria have been projected to be at a “crisis food security level”...

Agriculture, Construction, others to drive Nigeria’s economic growth by 3.3 percent in 2024, says World Bank

The World Bank has projected that agriculture, construction, services, and trade are expected to drive Nigeria’s economy’s growth in 2024. According to the...

SERAP to World Bank: Suspend further loans to 36 states in Nigeria over N87trn debt

With Nigeria’s staggering debt of over N87 trillion, the Socio-Economic Rights and Accountability Project (SERAP) has urged the World Bank President, Mr Ajay...

Pres. Tinubu seeks House of Reps’ approval for N2.1trn 2023 supplementary budget

President Bola Tinubu has written to the House of Representatives, seeking approval for supplementary budget of N2.1 trillion for 2023. The President said...

World Bank announces historic collaboration between multilateral development banks

The World Bank is bolstering its collaboration with nine Multilateral Development Banks (MDBs) to fast-track solutions that can change the lives of people...

For fifth consecutive year, Nigeria maintains its position as largest economy in Africa

Nigeria has consolidated its position as the largest economy in African for the fifth year in a row in 2022 with a nominal...

World Bank Job: How Nigeria’s ex-Finance Minister Zainab Ahmed sidestepped FG’s nomination, appropriated position to herself

May assume duty on July 10, 2023 A devious plot conceived and hatched by a former Minister of Finance against Nigeria to circumvent...

Ajay Banga appointed 14th World Bank President

The Executive Directors of the World Bank today appointed Mr Ajay Banga as the President of the bank for a five-year term beginning...