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…
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…