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Tag: World Bank

featured Finance

W’Bank to disburse $500m loan for Nigeria’s Project BRIDGE

The $500 million loan from the World Bank for Nigeria’s Building Resilient Digital Infrastructure for Growth project, also known as Project BRIDGE, will be disbursed in six tranches over a six-year period. Specifically, the International Development Association loan will be disbursed from 2026 to 2031, subject to Nigeria meeting a series of performance conditions. Going […]

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

Cross River, World Bank partner to train teachers

The Cross River State government, in collaboration with the World Bank’s Project Hope Education, has commenced an intensive training programme for teachers aimed at bridging the learning gaps in English and Mathematics across primary schools in the state. The Cross River State Commissioner for Education, Professor Stephen Odey, while addressing trainees at a three-day workshop, […]

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

Reliable electricity key to unlocking Africa’s job potential – World Bank

The World Bank says affordable and reliable electricity could unlock Africa’s job potential, drive economic transformation, and lift millions out of poverty. In a new blog post titled “Switching on Opportunity: How Electricity Can Transform Jobs in Africa,” the Bank noted that although energy innovations have transformed work worldwide over the past 150 years, Africa’s […]

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

World Bank report exposes worsening poverty under Tinubu — ADC

The African Democratic Congress has said that the World Bank’s October 2025 report, which revealed that 139 million Nigerians are now living below the poverty line, exposes the widening gap between the Federal Government’s claims of economic recovery and the harsh realities faced by ordinary citizens. In a statement signed by its National Publicity Secretary, […]

World Bank approves $1.08bn to improve health, education
Business

Nigeria’s revenue allocation higher than Ghana’s, others – W’Bank

Nigeria’s revenue-sharing system, which grants the Federal Inland Revenue Service 4 per cent of both non-oil and oil revenues (excluding royalties), is significantly higher than comparable allocations in countries like Kenya, Ghana, South Africa, and Uganda. This finding is highlighted in the World Bank’s October 2025 edition of the Nigeria Development Update (NDU), titled “From […]

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

Presidency rejects World Bank’s ‘unrealistic’ 139m poverty figure

The Presidency has disputed the latest economic report by Nigeria’s biggest multilateral lender, the World Bank, which estimated that 139 million citizens were living in poverty, describing the figure as “unrealistic” and detached from the country’s economic realities. President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, said in a post on […]

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

Nigeria to receive $750m loans from World Bank Tuesday

Nigeria is set to receive two loans totaling $750 million from the World Bank on Tuesday, according to the bank’s official website. The loans are aimed at improving Nigeria’s healthcare security and expanding access to climate-resilient digital infrastructure in underserved areas. One of the loans is a $500 million facility, known as the Building Resilient […]

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

300m Africans to get electricity by 2030 — World Bank

Seventeen African governments have committed to reforms and actionable plans to expand electricity access as part of Mission 300, a partnership led by the World Bank and the African Development Bank Group aiming to connect 300 million Africans to electricity by 2030. Governments from Benin, Botswana, Burundi, Cameroon, Comoros, Republic of the Congo, Ethiopia, Gambia, […]

Nigeria remains World Bank's third-largest debtor with $18.2bn IDA loans
News

Nigeria remains World Bank’s third-largest debtor with $18.2bn IDA loans

Nigeria has maintained its position as the third-largest debtor to the World Bank’s International Development Association, with outstanding loans totaling $18.2 billion as of June 30, 2025. This represents a 10.3 per cent increase from $16.5bn in June 2024, according to the IDA’s latest financial statements. Nigeria first climbed to third place in 2024, up […]

Business

W’Bank, Nigeria deepen ties with 90,000km fibre optic broadband plan

The World Bank Group has pledged to strengthen its partnership with the Federal Government of Nigeria, unveiling plans for a nationwide 90,000-kilometre fibre optic project to expand digital broadband access across the country. Anshula Kant, Managing Director and Chief Financial Officer of the World Bank, made the commitment during a courtesy visit to President Bola […]

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

Formal savings surge in Nigeria, other developing countries – W’Bank

The World Bank’s Global Findex 2025 report has revealed a record increase in formal savings among adults in developing economies, driven largely by the rapid adoption of mobile money services. According to the report, 40% of adults in these countries saved money through formal financial systems in 2024 — including banks, mobile money platforms, and […]

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