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Senate gives NNPC auditors one week to explain

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Tag: World Bank

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

World Bank pledges health services to 1.5bn people by 2030

The World Bank Group has unveiled an ambitious initiative aimed at ensuring that no fewer than 1.5 billion people worldwide have access to quality and affordable health services by the year 2030. This initiative forms a vital component of a broader global endeavor dedicated to securing a fundamental standard of care across all stages of […]

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

Nigeria, 14 others have low credit ratings – World Bank

Nigeria and 14 other countries have been identified by the World Bank as having weak credit ratings for sovereign bonds as stated in its latest report “The Great Reversal: Prospects, Risks, and Policies in International Development Association (IDA) Countries.” According to the report released on Monday, the list includes Cameroon, the Democratic Republic of Congo, […]

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

World Bank unveils new framework to measure accountability

The World Bank Group has developed a new corporate scoreboard in tracking development results across 22 indicators, to provide a clear picture of the progress across all aspects of the World Bank Group’s mission. This underlines significant efforts in promoting accountability and transparency. This was disclosed in a press release on its website. The same […]

Economy

FG seeks $1bn W’Bank loans for IDPs, agric

The Federal Government is in talks with the World Bank to complete the processes of obtaining over $1bn in loan to tackle the challenges, facing Internally Displaced Persons and their host communities, as well as bolster rural access and agricultural marketing in the country. This was disclosed in the World Bank documents titled, ‘Solutions for […]

NNPCL fuel subsidy gains not fully remitted - World Bank
News

FG to launch W’Bank-funded $100m women empowerment project

The World Bank will provide $100 million to the Federal Government to launch an initiative aimed at empowering women economically. The Times stated that, President Bola Tinubu P-BAT Cares for Nigerian Women project is an effort that seeks to improve the lives of women in the nation and increase their productivity in a variety of […]

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

Nigeria seeks World Bank COVID-19 loan extension

The Nigerian government has officially requested an extension from the World Bank for the deadline of a significant $500 million loan initially designated for COVID-19 response efforts. “The Federal Government of Nigeria has formally requested for the extension of the closing date of the Nigeria COVID-19 Preparedness and Response Project (NCPRP) from the current closing […]

Nigerian retailers, wholesalers may not escape poverty – World Bank economists
Economy

Nigerian retailers, wholesalers may not escape poverty – World Bank economists

World Bank economists, Jonathan Lain, Senior Economist, and Utz Pape, Lead Economist for Poverty and Equity Global Practice, have expressed reservations about the efficacy of retail and wholesale trade jobs as a viable means to alleviate poverty in Nigeria. They suggest that these positions may not serve as a dependable pathway out of the country’s […]

NNPCL fuel subsidy gains not fully remitted - World Bank
News

Seven Nigerian states to face food crisis in 2024 — W’Bank

Borno, Adamawa, Kaduna, Katsina, Yobe, Sokoto, and Zamfara states are the ones the world bank spoke about. According to the World Bank’s most recent Food Security report, because of armed conflict and other factors that are lowering living standards throughout the area, seven states in the North-west and North-east are expected to be at crisis food […]

World Bank bans Nigerian companies, CEO over fraudulent practices
Banking

World Bank MD to visit Nigeria

By Christian George The World Bank’s Managing Director of Operations, Anna Bjerde, will visit Nigeria on February 6, 2024 to meet with ministers and Central Bank of Nigeria governor. Bjerde who is expected to spend two days in the country will focus more on the key pillars of Nigeria’s development strategy. According to a statement, […]

World Bank approves $300m support package for Ghana's economic recovery
Economy

Nigeria, others most affected by high food inflation – W’Bank

The World Bank has revealed that domestic food price inflation has had the greatest impact on Nigeria and other African, North American, and Latin American countries. According to The PUNCH, the multilateral lender’s recently released Food Security Update revealed that while domestic food price inflation remained high, 61.9 per cent of low-income nations faced inflation more than 5 per […]

NNPCL fuel subsidy gains not fully remitted - World Bank
Business

Insecurity, economic hardship to worsen in six states – W’Bank

The World Bank predicts that persistent insecurity, armed conflict, and declining livelihoods will continue to impact local government areas in Borno, Kaduna, Katsina, Sokoto, Yobe, and Zamfara states in Nigeria until May 2024. The PUNCH revealed that this came after it was revealed that the country’s access to agricultural inputs is being hampered by bad macroeconomic […]

NNPCL fuel subsidy gains not fully remitted - World Bank
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99.9% households yet to receive FG’s cash transfer – W’Bank

The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout. According to The Times, data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented last week in Abuja during the Nigeria Development Update, December 2023 edition. The […]

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