The World Bank has uncovered $32 million in unaccounted funds in a Nigerian water sector project, sparking concerns over possible embezzlement and mismanagement. The discrepancy was flagged by the Bank’s Integrity Vice Presidency following a forensic review, as outlined in…
The World Bank’s recent endorsement of Nigeria’s economic reforms raises pressing questions about its priorities and the impact on the Nigerian populace. Over the past five years, Nigeria has borrowed more than $24 billion from the global lender, with the…
The Federal Government has been advised to sustain the ongoing reforms despite the hardship on Nigerians. The World Bank Vice President and Chief Economist, Mr Indermit Gill, who gave this advice, also hailed the Central Bank of Nigeria, CBN, for…
The World Bank has approved a 500 million dollar loan to support the Sustainable Power and Irrigation for Nigeria (SPIN) project aimed at reducing climate-induced challenges. World Bank’s Regional Director, Sustainable Infrastructure Development for West and Central Africa, Chakib Jenane…
By Seun Ibiyemi The World Bank has expressed its desire to partner with the Ministry of Marine and Blue Economy, so as to develop the maritime sector in line with the vision of the ministry. Leading a team of the…
The Rural Access in Agriculture Marketing Project (RAAMP), says it has initiated viable projgrammes to improve social and economic wellbeing of rural dwellers in Kano State. RAAMP is an infrastructure-based project funded by the World Bank, Development Finance Agency and…
By Matthew Denis In order to enhance effective power distribution and connection, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun has met with Guangzhe Chen, Vice President for Infrastructure at the World Bank, to discuss…
By Esther Agbo Lagos State Governor Babajide Sanwo-Olu has earned the commendation of the World Bank for the transformation recorded in the State over the last five years. The multilateral institution said the State had not only been implementing programmes…
The World Bank Finances has revealed that Nigeria is still repaying $10.6 billion in loans taken out during the presidencies of Obasanjo, Yar’Adua, and Jonathan. The Debt Management Office reported that as of March 31, 2024, Nigeria’s total debt was…
Nigeria has secured at least $1.25 billion in loans from the World Bank and the African Development Bank (AfDB) to boost electricity supply under the administration of President Bola Tinubu. On December 14, 2023, the World Bank approved the $750…
