Nigeria Remains Third-Largest Debtor to IDA With $17bn
Nigeria has retained its position as the third-largest debtor to the World Bank’s International Development Association (IDA) with its exposure climbing to $17.1bn as of September 30, 2024.
According to the World Bank’s latest financial statements for the...
IMF, World Bank and Nigeria's Huge Debt
By Wale Odunsi
The 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) took place from October 21 to October 26 in Washington, D.C., the United States capital. As usual, it was a...
How Nigeria Lost N13trn to Forex Subsidy — World Bank
The Federal Government incurred a significant loss of N13.2tn in foregone revenue as a direct consequence of the implementation of its foreign exchange subsidy policy between 2021 and 2023, the World Bank has stated.
It said...
Inflation Pushes 129 million Nigerians into Poverty – World Bank Report
The World Bank has released the Nigeria Development Update report, stating that over 129 million Nigerians are currently trapped in poverty.
It released the report on Thursday in Abuja as headline inflation rises, forcing millions...
World Bank Reveals Why Nigeria Should Continue Current Economic Reforms
The World Bank has urged the federal government not to reverse the ongoing economic reforms, warning that it may have negative implications for the country.
Removal of fuel subsidy and abolishing multiple foreign exchange systems were...
