SERAP Urges Tinubu To Probe $1.5bn World Bank Loan To States, FCT
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to investigate the $1.5bn World Bank loan obtained by the 36 states and the Federal Capital Territory. In…
FG Battle to End Petrol Subsidy in 2022 as World Bank Condemns N2.9tn Funding
Shubham Chaudhuri, World Bank Country Director for Nigeria, has called on the nation to halt the payment of subsidy for premium motor spirit, otherwise called fuel. He stated this during…
World Bank Ranks Nigeria Third-Largest Debtor
Nigeria has emerged as the third-largest debtor to the World Bank's International Development Association, with a total debt stock of $16.5 billion as of June 30, 2024. This is…
World Bank Commended us For Transparency in Audited Financial Statement – Kogi Government
The Kogi state government has disclosed its 2020 audited financial statement was commended by the World Bank. According to a statement issued on Monday, Kingsley Fanwo, commissioner for information, said the…
Nigeria’s Rising Debt: Tinubu Administration Secures $6.45bn from World Bank
The Federal Government of Nigeria has borrowed $6.45 billion from the World Bank since President Bola Tinubu took office just 16 months ago. This figure is set to rise following…
Dependence on Oil Exports Major Cause of Nigeria’s Frail Growth Prospects – World Bank
The World Bank has said Nigeria’s dependence on oil exports is the major cause of the frail growth prospects of the country. The global bank made this known in its…
W’ Bank Reports 129 Million Nigerians Plunged into Deeper Poverty Amid Soaring Inflation
The World Bank's latest Nigeria Development Update report has painted a dire picture of the nation's economic landscape, revealing that over 129 million Nigerians now live below the national poverty…
Poor Nigerians to hit 95.1m in 2022 – World Bank
The World Bank has stated that by the end of 2022, over 95.1 million Nigerians will slip into the extreme poverty and this is due to the stagnation of the…
Oxfam Uncovers Unaccounted $41bn in W’Bank
In a report released on Thursday, Oxfam International has revealed that between $21 billion and $41 billion in World Bank climate finance remains unaccounted for. The findings, covering the period…
World Bank Suspends Nigerian Firm, MD for For Five Years Over ‘corrupt Practices’
The World Bank has stated that SoftTech IT Solutions and Services Ltd. (SoftTech) an information technology solutions company based in Nigerian and its Managing Director, Mr Isah Kantigi, has been…