…Cancels, completes activities in project restructuring effort By Sodiq Adelakun The Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) Project in Nigeria, which was launched with a funding of $200 million, is set to undergo significant changes to…
The World Bank has predicted that Nigerian Gross Domestic Product will grow by 3.7 percent in 2025. The World Bank in its latest report titled “Global Economic Prospect: Subdued Growth, Multiple Challenges,” projected that the African largest economy will improve…
The World Bank says improved access to internet coverage in three years led to a seven per cent extreme poverty reduction in Nigeria and Tanzania. The apex development bank made this known in a recent report titled, “Digital transformation drives…
…Considers tapping domestic dollar savings The Federal Government has revealed its intention to obtain a loan facility of $1.5 billion from the World Bank. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun stated this in an…
…Warns of economic challenges in Nigeria, South Africa, others By Sodiq Adelakun The World Bank has predicted that Nigeria’s economy will grow by 3.3 percent this year, according to its recent Global Economic Prospect (GEP) report. This projection is 0.4…
By Sodiq Adelakun The World Bank’s latest Food Security Update has brought to light the significant impact of domestic food price inflation on various regions across the globe, with Nigeria, along with other African, North American, and Latin American nations,…
In a significant move to bolster Nigeria’s infrastructure and social programs, the World Bank has approved a series of loans totaling $2.7 billion for the West African nation. The administration of President Bola Tinubu has secured this financial package amid…
…17.5m Nigerians to get solar, power grids …As electricity subsidy gulps N204.5bn Q’3 2023 In line with its commitment to provide improved access to electricity through distributed renewable energy solutions, the World Bank has approved a $750 million facility for…
The World Bank says the federal government may still be paying for petrol subsidy as fuel prices in Nigeria are currently not cost-reflective. It said Nigerians should pay about N750 per litre as against the current price of N650 in…
The World Bank has said that by 2025, Nigeria should have over N11 trillion saved from fuel subsidy removal. The World Bank provided this insight in the December 2023 Nigeria Development Update which is a bi-annual report which evaluates recent…
