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...
World Bank Loan Of $800m To Be Repaid Over 25 Years By FG
The $800m loan approved by the World Bank as a subsidy palliative is expected to be repaid by the new administration after President Muhammadu Buhari regime.
The Minister of Finance, Budget and National...
Global Growth Drops to 2% in 2023, Says World Bank
The World Bank Group President, David Malpass says global growth is expected to be weak in 2023, slowing to two per cent from 3.1 per cent in 2022.
Malpass said this in his Opening address at...
High Inflation: Naira lost 10% value in 2022 - World Bank
The World Bank says Nigeria's currency, naira lost 10.2 per cent of its value in 2022.
This came as rising food and fuel prices were responsible for high inflation in the country in 2022. The...
W’Bank Warns Incoming Govt, Projects Weak Economic Growth, Others
The World Bank has said that the incoming administration in Nigeria will face weak economic growth and policy challenges this year.
In its latest Africa’s Pulse report for April 2023, published on Wednesday, the bank predicted...
