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…
World Bank Flags $32m Missing in Nigeria’s Water Project Funds
The World Bank has uncovered a staggering $32 million in unaccounted funds in a Nigerian water sector project, sparking concerns of potential embezzlement and financial mismanagement. The discovery, made through…
Nigeria Economic Growth Will Decline in 2023 – World Bank
Nigeria’s economic growth will slow down next year, a World Bank report said. This was disclosed in a recent report released in Washington on Tuesday, October 4, and tagged Africa’s…
Nigeria Set to Receive $500m World Bank Loan for Rural Development
The Federal Government is negotiating a $500 million loan with the World Bank to boost rural access and agricultural marketing across Nigeria, sources have confirmed. The loan, which is expected…
World Bank President, David Malpass Resigns
World Bank president, David Malpass on Wednesday announced that he would step down from his position by the end of June. “After a good deal of thought, I’ve decided to…
World Bank Calls for $30 Trillion Investment to Achieve 2050 Emissions Targets
The World Bank has issued a strong call for an additional $30 trillion in investments to meet global net-zero emissions targets by 2050. In its newly released “Net-Zero Industry Tracker…
Number of Poor Nigerians to Hit 101m Over Subsidy Removal
The number of poor Nigerians is set hit one hundred and one million due to fuel subsidy removal. This was disclosed by World Bank on Tuesday in Abuja when it…
World Bank Approves $500m for Nigeria’s Rural Roads
The World Bank has approved a $500 million concessional loan to tackle Nigeria's worsening rural road infrastructure. The funding will be directed towards the Rural Access Agricultural Marketing Project-Scale Up…
World Bank Approves $1bn to Improve Security in Lake Chad Region
The World Bank has provided one billion dollars to strengthen resilience and improve the livelihood of the people in the countries affected by the insurgency in Lake Chad. The bank’s…
World Bank Approves $1.65bn Loans to Nigeria for Critical Development Projects in 2025
The World Bank has approved a significant loan package totaling $1.65bn (approximately N2.47 trillion) to Nigeria, with disbursement expected to take place in 2025. In an official statement released by…