World Bank Halts $700M Loan to Nigeria Amid Controversy over Water Bill A $700 million World Bank loan for a Rural Water Supply and Sanitation Project in Nigeria has been put on hold due to legislative gridlock. The Sustainable Urban and Rural Water Supply, Sanitation and...

Edun, Cardoso Seek Increase In World Bank Support for Nigeria Mr. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, has called for more support from the World Bank for Nigeria, expressing hope that the multilateral institution will appreciate the reforms conducted...

$1.5bn Loan: Time to Rethink Debt Strategy, Relationship with Bretton Woods By Zekeri Idakwo In a desperate bid to save the Naira, the Nigerian government has yet again turned to the World Bank for a loan of $1.5 billion. Is this just another band-aid solution, or...

Nigerian Economy Growth to Rise 3.7% in 2025 - World Bank The World Bank has predicted that Nigerian Gross Domestic Product will grow by 3.7 per cent in 2025. The World Bank in its latest report titled “Global Economic Prospect: Subdued Growth, Multiple Challenges”, projected that...

World Bank Reveals Nigeria’s Poverty Rate Reduced By 7%   The World Bank has estimated that improved access to internet coverage over three years led to a seven per cent reduction in extreme poverty in Nigeria and Tanzania. This was disclosed in a new brief titled, “Digital...

World Bank Projects 2.3% Growth in Global Trade by 2024 Global trade is projected to pick up to 2.3 percent in 2024 after lagging behind global growth in 2023. This reflects a partial normalisation of trade patterns following exceptional weakness last year. The World Bank’s latest Global...