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Tag: World Bank

World

W’Bank warns of massive jobs crisis in developing countries

The World Bank Group has warned that developing economies face a looming employment crisis as millions of young people prepare to join the workforce without sufficient jobs to accommodate them. This mismatch threatens economic stability, increases migration pressures, and poses risks to global security. In a blog post on its official platform, the Washington-based institution […]

Economy featured

Invest in children or risk $1tn economy dream, W’Bank warns Nigeria

Nigeria’s ambition to build a $1tn economy by 2050 could be undermined if the country fails to urgently invest in early childhood development, the World Bank has warned. The warning came during a policy dialogue held in Abuja on Tuesday, themed “Early Childhood, Productivity and Nigeria’s Growth Choices”. Development experts at the event highlighted that […]

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World Bank reduces CBN grant from $10.5m to $6.8m

The World Bank has scaled down a proposed grant to the Central Bank of Nigeria from $10.50m to $6.80m, with the project now slated for board consideration on March 27. The funding, which is still structured as a grant rather than a loan, is intended for the CBN Technical Assistance Facility, according to The Punch. […]

Electricity

FG, World Bank inject $500m to revive DisCos

The Federal Government, in collaboration with the World Bank, is set to inject $500 million into Nigeria’s ailing electricity distribution sector under the Distribution Sector Recovery Programme, as part of efforts to cut losses, close the metering gap and improve power supply nationwide. The intervention was disclosed by Director of the Energy Sector Department at […]

Economy

ICYMI: W’Bank hails Tinubu’s ‘difficult’ reforms as global reference point

The World Bank has commended President Bola Tinubu’s reform drive, describing Nigeria as a frequent global reference point for reform implementation and results. The bank’s Managing Director of Operations, Anna Bjerde, stated this on Tuesday while leading a World Bank Group delegation to the president at the State House, Abuja. Anna Bjerde said Nigeria’s reform […]

Economy

Nigeria’s reforms are irreversible, Tinubu tells World Bank

President Bola Tinubu has assured a World Bank delegation, led by Managing Director of Operations Anna Bjerde, that Nigeria’s bold economic reforms are irreversible. He framed the reforms as essential for harnessing the nation’s vast potential, driven by its youthful population and abundant arable lands. The meeting took place at the State House following a […]

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W’Bank top executive in Nigeria for talks on growth, jobs

The Managing Director of Operations at the World Bank, Anna Bjerde, is in Nigeria for a three-day visit aimed at strengthening collaboration on boosting economic growth and job creation. The World Bank, in a statement on Sunday, said the visit, which begins on February 1, 2026, will explore how the World Bank Group can best […]

Economy

Nigeria poised to unlock billions in procurement opportunities — W’Bank

The World Bank Group has highlighted billions of dollars in business opportunities for Nigerian companies as its Africa West portfolio grows, with local firms already securing most contracts. Nazaneen Ismali Ali, the bank’s regional procurement manager for Africa West and Central, said the region currently holds $63.5 billion in active commitments across 315 projects in […]

Investment

W’Bank fund: States given 30-day deadline to publish contract awards

In a renewed effort to strengthen transparency and accountability in public procurement, the World Bank–assisted Human Capital Opportunities for Prosperity and Equity Programme of the Federal Ministry of Budget and Economic Planning has directed state governments to publish contract award information for basic education and primary healthcare procurements within 30 days after the end of […]

Technology

Africa, Middle East lag behind in business AI adoption — W’Bank

Artificial intelligence adoption among businesses remains lowest in Sub-Saharan Africa and the Middle East, highlighting a widening digital divide across emerging regions, according to a new World Bank survey. The survey, conducted in June 2025, covered more than 2,200 companies across over 85 countries backed by the World Bank Group’s private-sector arm or by private […]

Economy

Nigeria’s growth fragile without pro-poor policies — World Bank

The World Bank has cautioned that Nigeria’s economic growth, despite showing early signs of recovery, remains fragile and may fail to improve living standards for millions of citizens without deliberate and targeted policies to reduce poverty. The warning was issued by Dr Samer Matta, the World Bank’s Senior Economist for Nigeria, during the Nigeria Economic […]

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Nigeria’s economy to grow 4.4% in 2027 – W’Bank

The World Bank has maintained Nigeria’s economic growth forecast at 4.4 per cent for 2027, reflecting continued confidence in the country’s medium-term prospects despite ongoing structural challenges. The projection, detailed in the World Bank’s Global Economic Prospects report released in January 2026, is consistent with the estimate published earlier in the Nigeria Development Update in […]

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