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Tag: World Bank

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 […]

World

World Bank adds Abia to $700m SURWASH water supply initiative

Abia State has been selected as one of six states to benefit from the $700 million Sustainable Urban and Rural Water Supply, Sanitation and Hygiene Programme funded by the World Bank. Nairametrics reported that the development was disclosed on Monday by the Commissioner for Information, Okey Kanu, while briefing journalists after the State Executive Council […]

featured World

World Bank warns of 60% urea price surge

The World Bank has projected a 60 per cent surge in global urea prices in 2026, raising concerns over fertilizer affordability, food inflation, and agricultural productivity in developing economies. This was disclosed in the World Bank’s April 2026 Commodity Markets Outlook, which warns that tightening supply conditions, rising energy costs, and geopolitical disruptions could push […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
Business featured

World Bank commits $8.2bn to tackle Africa’s electricity access gap

The World Bank Group has pledged $8.2 billion to boost electricity access across Sub-Saharan Africa, intensifying efforts to address one of the region’s most enduring development gaps, with nearly 600 million people still without power. The funding underpins “Mission 300,” a joint initiative with the African Development Bank Group to connect 300 million people to […]

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