World Bank Warns of Weakest Global Growth Since 2008 The World Bank has projected that heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recession This was stated in its...

FG Risks Losing $10m World Bank Loan Over Audit Failures The federal government is expected to forfeit $10 million from a World Bank credit due to audit shortcomings, delays in launching a national budget portal, and slow implementation of a revenue assurance system. The fund is...

Moody’s Upgrades Nigeria’s Rating to B3, Cites Improved Reserves   Moody’s has upgraded Nigeria’s rating by a notch to ‘B3’ from ‘Caa1,’ citing significant improvements in the country’s external and fiscal positions. The credit ratings agency revised Nigeria’s outlook to ‘stable’ from “positive’ as it expects recent...

The World Bank has revealed that Nigeria was only able to attract foreign direct investment (FDI) valued at less than one per cent of the country’s gross domestic product (GDP) in 2014.

The Federal Government’s revenue rose by 82.4 per cent from N6.8tn in 2023 to N12.4tn in 2024, driven by the unification of the foreign exchange rates, enhanced tax administration, and reforms in treasury remittances, the World Bank has said.

World Bank Faults FG Cash Transfer Programme The World Bank has faulted the Federal Government’s conditional cash transfer programme, stating that the initiative failed to reach millions of Nigerians in need of urgent economic relief, as only 37 per cent of the targeted households had...