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Tag: World Bank

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 […]

featured

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 […]

featured Opinion

‘Stop giving Tinubu’s govt loans’, Nigerians on X warn World Bank

Economists and Nigerians have raised concerns about Nigeria’s debt level, describing it as a high-risk fiscal state, warning that improvement is necessary despite stability in some critical debt measures. Nigerians have taken to social media, urging the World Bank to reject the recent proposed $1.2 billion loan request. The Nigerian Economic Summit Group has cautioned […]

Business

World Bank warns rising oil prices could worsen food insecurity

The World Bank has cautioned that a sustained rise in oil prices driven by escalating tensions in the Middle East could deepen food insecurity in developing countries, as higher energy and transport costs feed into global commodity prices. In its latest Commodity Markets Outlook, the bank projected that global commodity prices will increase by 16 […]

featured Finance

FG seeks fresh $1.25bn World Bank loan for reforms, jobs

The Federal Government is in advanced discussions with the World Bank over a proposed $1.25bn loan facility aimed at supporting economic reforms, investment growth, and job creation in Nigeria. According to The PUNCH, the proposed funding, known as the Nigeria Actions for Investment and Jobs Acceleration Programme, has reportedly reached a critical stage in the […]

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