The naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024. This is according to the latest edition of Africa’s Pulse, a new report by the World Bank. As...
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World Bank okays additional $1.57billion loan for Nigeria
News Update The World Bank announced that it has approved an additional $1.57 billion loan to the Nigerian government to fund three projects. The Washington-based bank disclosed this in a statement on Monday. The...
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4 Minutes
BREAKING: FG eyes $750m W’Bank loan, mulls telecom tax
In pursuit of securing a new $750m loan from the World Bank, the Federal Government may reintroduce previously suspended telecom tax and other fiscal measures. This is according to the Stakeholder Engagement Plan...
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2 Minutes
BREAKING: World Bank, AfDB to offer electricity to 300m Africans
The World Bank and the African Development Bank (AfDB) are partnering to provide electricity access to at least 300 million people in Africa by 2030. This was disclosed following the meeting of World...
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3 Minutes
Borno, Adamawa, others risk severe food crisis – World Bank Reports
The World Bank has said seven states across the North-west and North-east regions of the country may suffer food crises due to high levels of insecurity and armed conflicts that has reduced the standards...
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2 Minutes
Economic Hardship, Insecurity Foreseen to Intensify in Six States — World Bank discloses list
Persistent insecurity, armed conflict, and deteriorating livelihoods will continue to affect local government areas in Borno, Kaduna, Katsina, Sokoto, Yobe, Zamfara states, and the far north of Adamawa State in Nigeria until May 2024,...
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FG Tasked To End Subsidy, Asked To Jerk Up Petrol Price to N750/L
THE World Bank has said the Federal Government may still be paying fuel subsidies, considering that the country’s fuel prices are currently not cost-reflective. It said the petrol price should be around N750 per...
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4 Minutes
BREAKING: FG gets over $1.5bn fresh W’ Bank, AfDB loans Dec – Edun
The Federal Government on Monday said it had secured a budget support loan worth $1.5bn from the World Bank and another worth $80m from the African Development Bank to finance various projects in critical...
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2 Minutes
Cash Transfer: FG Hits World Bank For Fresh $400m Loan
VAM NEWS UPDATE As parts of the measures to cushion the effects of petrol subsidy removal on Nigerians, the Federal Government has approached the World Bank for a fresh loan of $400m for the...
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2 Minutes
Again, World Bank Approves Another $700m Loan For Nigeria
The World Bank has approved a fresh $700m loan for Nigeria. It disclosed this in a statement published on its website on Friday, Sept. 22 The new loan is to provide additional...
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