Nigeria’s Per Capita Income Same In 40 Years, Says W/Bank     The World Bank’s Country Director for Nigeria, Shubham Chaudhuri says the country’s per capita income is at the same level as 1981. Speaking on Monday during a panel session at the 27th Nigerian Economic Summit (NES#27),...

FG To End Petrol Subsidy June 2022, W/Bank Condemns N2.9trn Funding   The World Bank has decried the continued spending by the Nigerian government on petrol subsidy, which it said is on track to gobble up N2.9tn this year. Its Country Director for Nigeria, Shubham Chaudhuri, who...

Rising Inflation Pushed 7million Nigerians Below Poverty Line – W/Bank       The World Bank has said rising prices pushed about seven million Nigerians below the poverty line in 2020. This was contained in a press statement titled ‘Critical reforms needed to reduce inflation and accelerate the recovery,...

W/Bank To Boost Water Supply In Nigeria With $700m     The World Bank has approved the Nigeria Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene (SURWASH) Programme , which will provide $700m credit from the International Development Association to ensure that six million people can...

Poor Nigerians Will Reach 100 Million By 2022 – W/Bank       The World Bank on Thursday projected that the number of poor Nigerians will increase from the current 90 million to about 100 million by 2022 due to the impact of the COVID-19 pandemic on the...

W/Bank Withholds $1.5bn Loan To Nigeria         Nigeria got a caveat on Thursday to get approval for a $1.5 billion loan she is seeking from the World Bank. The reforms around the naira must be strengthened by the Federal Government, the financial institution is insisting. According to...