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Tag: World Bank

Finance

60% of Africa’s trade costs stem from within — W’Bank

Africa’s biggest trade obstacles are occurring within countries rather than at the border, with about 60 per cent of total trade costs coming from behind-the-border barriers, according to a World Bank report. The finding is contained in the World Bank’s Integrating Africa: From Threads to Hubs, which identifies customs clearance inefficiencies, regulatory misalignment, weak logistics […]

featured Finance

World Bank to phase out lending to China by 2031

The World Bank on Thursday confirmed that it plans to phase out its lending to China by 2031, according to the organization’s new country partnership framework for the world’s second-largest economy. AFP first reported that the multilateral lender would be making the move last month. “IBRD lending will continue to phase down during the CPF […]

Economy featured

79% of Nigerians still poor despite reforms — World Bank

Despite nearly three years of sweeping economic reforms by the Federal Government, about 79 per cent of Nigerians remain poor or vulnerable to falling into poverty, highlighting the country’s deepening social and economic challenges. New World Bank documents obtained by The PUNCH show the findings are contained in the World Bank’s newly approved Country Partnership […]

Finance

20 Nigerian states to get $27m W’Bank grants

A total of 20 Nigerian states will receive a combined $27 million in performance-based grants under the World Bank-supported Human Capital Opportunities for Prosperity and Equity Governance Programme after meeting key reform targets in education, healthcare and public financial management. Nairametrics reported that the disbursement was announced on Tuesday by the National Coordinator of the […]

featured Finance

W’Bank grants Nigeria’s $1.25bn loan request despite backlash

The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme, despite growing public concerns over the country’s rising external debt profile. The approval was announced on Wednesday alongside the launch of the World Bank’s new Country Partnership Framework for Nigeria, which will run […]

featured Finance

World Bank to end loans to China by 2031

The World Bank will phase out its lending to China by 2031 under its new Country Partnership Framework, marking a significant shift in its relationship with the world’s second-largest economy. Financial Times reported that according to a World Bank official who spoke on condition of anonymity, the decision reflects China’s economic progress over the past […]

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Nigeria, eight others account for 83% of global gas flaring – Report

Nigeria remained one of the world’s largest gas-flaring countries in 2025, ranking among the nine nations responsible for 83 per cent of global gas flaring. This was disclosed in the World Bank’s Global Gas Flaring Tracker Report, released on Tuesday. The report identified Russia, Iran, Iraq, Venezuela, Mexico, Libya, Algeria, Nigeria, and the United States […]

Electricity

W’Bank, AfDB to connect 50 million Africans to electricity

The World Bank and the African Development Bank have announced that Mission 300, an initiative aimed at providing electricity to 300 million Africans by 2030, has connected more than 50 million people to power across 40 countries, nearly two years after its launch. Nairametrics reported that this was disclosed in a joint statement issued by […]

featured Investment

FG, World Bank slash funding for new classrooms in HOPE initiative

The Federal Government and the World Bank have restructured the $500m HOPE for Quality Basic Education for All programme. The restructuring involves cutting funding allocations tied to the construction of new classrooms while expanding the number of states eligible for targeted interventions under the project. Details of the restructuring were contained in a World Bank […]

Business

W’Bank education scheme sees over 55% reduction in Nigeria’s classroom funding

Funding earmarked for the construction of new classrooms under the Federal Government’s World Bank-supported education programme has fallen by 55.3 per cent following a restructuring of the $500 million HOPE for Quality Basic Education for All project. According to a World Bank restructuring document, allocations dedicated to building new primary school classrooms through community participation […]

Nigerian retailers, wholesalers may not escape poverty – World Bank economists
Finance

Nigeria remains top IDA borrower despite W’Bank loan exposure decline

Nigeria retained its position as the International Development Association’s third-largest borrower in the first quarter of 2026 despite recording a slight decline in its exposure to the World Bank’s concessional lending arm. Data from the IDA’s latest March 2026 financial statements showed that Nigeria’s exposure fell to $18.5 billion as of March 31, 2026, from […]

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