World Bank Archives

World Bank punishes Nigerian firms, individuals for corruption

Nigeria’s oil production falls over poor maintenance -World Bank

The World Bank has said that Nigeria’s oil production declined in 2021 due to a lack of maintenance and the loss of infrastructure efficiency. It added that Nigeria was yet to benefit from increasing oil prices as a result of declining oil production and fuel subsidy. The Washington-based bank said this in a new report […]

agencyreport
14th May 2022
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Oil production: Angola, Libya overtake Nigeria, says OPEC

Oil and Gas

Oil production: Nigeria leads Q1 shortfall, World Bank cites sabotage

The World Bank has said Nigeria has the largest shortfall among oil-producing countries due to sabotage within the oil production system and other factors, such as low investments and the COVID-19 pandemic. According to the bank, Nigeria has a shortfall of 500,000 barrels per day, while Angola and Russia both have a shortfall of 300,000 […]

agencyreport
27th April 2022
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Economy

Sluggish growth affecting Nigeria, other African countries – W’Bank

The World Bank has stressed the need to boost labour output in Africa, stating that sluggish productivity growth is making the continent lag behind many developing nations. This was contained in a press release on the World Bank’s website, announcing the publication of a report titled, ‘Boosting Productivity in Sub-Saharan Africa’. The statement read in […]

agencyreport
28th March 2022
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Energy

Negotiations with labour on fuel subsidy removal still ongoing – FG

The Federal Government is still in negotiations with the organised labour as regards the removal of subsidy on Premium Motor Spirit, popularly called petrol, it was gathered on Sunday. Officials of the Nigerian National Petroleum Company Limited and the Nigerian Midstream and Downstream Petroleum Regulatory Authority stated that the removal of subsidy on petrol had […]

user
14th March 2022
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Tag: World Bank

Nigeria’s oil production falls over poor maintenance -World Bank

Oil production: Nigeria leads Q1 shortfall, World Bank cites sabotage

Sluggish growth affecting Nigeria, other African countries – W’Bank

Negotiations with labour on fuel subsidy removal still ongoing – FG

Protests grow as union challenges NAFDAC’s sachet alcohol.

NNPC remitted N14.7tn to FG in 2025 –.

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