The federal government of Nigerian is requesting a $500 million loan from the World Bank to repair rural roads, enhance agricultural product access, and combat rising food prices. The World Bank stated that this loan will benefit 92 million rural…
By Opeyemi Abdulsalam The World Bank has approved two financing facilities of $2.25 billion for Nigeria to support the Federal Government’s efforts to stabilize the economy. This was disclosed in a statement signed by the ministry’s director of information and…
By Seun Ibiyemi The Ministry of Trade and Investment, alongside the World Bank and the Nigeria Shippers’ Council (NSC), have identified simplified trade processes and procedures at the seaports, across states and regional borders as imperative for economic growth. Speaking…
By Opeyemi Abdulsalam Food inflation remained high in May, with 59 percent of low-middle-income countries, including Nigeria, experiencing increases. According to the World Bank’s latest report, Nigeria’s real food inflation jumped 41 percent compared to last year, while nominal food inflation…
As the global food crisis continues to wreak havoc, the World Bank says it has scaled up its efforts to tackle rising food insecurity, particularly in Africa. According to the latest update released on Monday, the Bank has now made available $45…
By Matthew Denis Respite is on the way in the power sector as the Federal Government has borrowed a whopping sum of $500 million from the World Bank to strengthen electricity distribution in the country. This was disclosed in a…
The Executive Vice Chairman of Globacom, Mrs. Bella Disu, says the company is poised to help drive the realization of the Federal Government’s digitalization agenda. She stated this at the launch of Nigeria’s Digital Economy Report themed ‘Driving Economic Growth…
The Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, has hosted the outgoing World Bank Country Director, Dr. Shubham Chaudhari at a dinner on behalf of the country. Commending Chaudhari for his Significant Contributions to Nigeria’s…
The World Bank on Monday said it would provide concessional loans to African nations and work with governments to enable the continent’s sustainable development. Ajay Banga, president of the World Bank Group, said the institution’s International Development Association (IDA) would…
The Minister of State, Federal Capital Territory (FCT), Dr Mariya Mahmoud, has commended the World Bank for disbursing 2 million dollars to the FCT. The fund is for the implementation of the World Bank-supported Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL)…
