FG in Talks with World Bank to Boost Fibre Optic Capacity to 125,000km
Just a few weeks after the Federal Government approved a special purpose vehicle to support the delivery of an additional 90,000 km of fibre optic cable, it has begun…
World Bank Blacklists 18 Nigerian Firms, Individuals for Corrupt Practices
18 Nigerian individuals and firms have been blacklisted by the World Bank for engaging in corrupt practices, fraud, and collusive practices in its 2021 fiscal year. A list of debarred…
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…