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Nigeria’s economy stronger but poverty worsened, IMF warns

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Tag: World Bank

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Economy

Nigeria’s inflation to rise 3.1% over oil shock – World Bank

The World Bank has warned that the ongoing surge in global oil prices could directly add around 3.1 percentage points to Nigeria’s headline inflation, as rising fuel costs ripple through the economy. The bank highlighted the widening gap between locally refined petrol and imported fuel as a key factor driving inflationary pressures in the downstream […]

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World Bank approves $500m to boost Nigerian agric sector

The World Bank has approved a $500 million International Development Association credit to boost Nigeria’s agricultural sector under a new programme targeting smallholder farmers, value chains, and food security. The funding will support the Nigeria Sustainable Agricultural Value-Chains for Growth project, also known as AGROW, which aims to improve productivity, strengthen market linkages, and create […]

Economy

World Bank backs Nigeria’s reforms, pushes state-level project execution

The World Bank has thrown its weight behind what it described as progress in Nigeria’s reforms, just as it has reaffirmed its strong support for the country’s reform agenda, highlighting the country’s steady progress towards economic recovery. Speaking on Wednesday in Abuja during a meeting with the Senate Committee on Capital Market, chaired by Senator […]

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W’Bank, ILO warn GenAI will reshape global labour markets

A new joint working paper by the International Labour Organisation and the World Bank has cautioned that generative artificial intelligence is set to transform labour markets globally, though its effects will vary sharply between advanced and developing economies. The study, produced as a background paper for the World Development Report 2026, analysed labour market exposure […]

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 […]

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