Fuel Subsidy: CISLAC Queries $800m World Bank Loan for Nigerians   The Civil Society Legislative Advocacy Centre, CISLAC, has queried the Federal Government over the World Bank’s $800 million loan to the country, as a palliative to cushion the effect of the proposed fuel subsidy removal...

World Bank Says Food Price Inflation Has Remained High Globally   The World Bank says inflation in food prices remains high globally. It made the declaration in its latest Food Security Update report issued on Wednesday. “Information from the latest month between December 2022 and March 2023 for...

'Diaspora Nigerians Remitted $168bn In Eight Years'   The Nigerian Diaspora community has remitted $168.33bn to the country in the past eight years, according to World Bank reports collated by our correspondents. This is as foreign investments inflow into the country fluctuated in the period under review...

Nigeria’s Indebtedness To World Bank Hits N6trn   Nigeria’s borrowing from the World Bank has risen by 121.46 per cent under the regime of President Muhammadu Buhari. Economic Confidential learnt that the total debt owed to the World Bank Group by Nigeria rose by $7.64bn (N3.52tn, using...

World Bank Says Nigeria Spent 96% Of Revenue On Debt Servicing In 2022   The World Bank says Nigeria’s constant fiscal deficit has worsened the nation’s public debt stock, with 96.3 per cent of government revenue spent on servicing debt in 2022. This was according to the...

IMF, World Bank Request Rich Nations to Fill $1.6bn Concessional Lending Gap   International Monetary Fund (IMF) and World Bank have appealed to wealthier countries to help plug a $1.6 billion gap in a concessional loan disbursed to low-income countries during the rampaging COVID-19 pandemic. The call was amplified...