Nigeria’s Foreign Portfolio Records $2.08bn Shortfall In 11 Years   Nigeria’s foreign portfolio equity recorded a $2.08bn shortfall between 2010 and 2021 amid an unfavourable economic environment characterised by forex challenges and loss of investors’ confidence. According to a World Bank report titled, ‘International Debt Report 2022’...

World Bank Says 80 Million Nigerians Risk Job Loss In 2030   The World Bank has disclosed that 80 million working-age Nigerians will not have a full-time job by 2030 if the nation doesn’t improve its employment rate. It added that 23 million more Nigerians would ill...

World Bank Says Debt Servicing Will Gulp 123% Of 2023 Revenue   The World Bank has projected that debt servicing will gulp 123.4 per cent of the Federal Government’s revenue in 2023. This was according to a presentation made by the new World Bank Lead Economist for...

Nigeria, Others Facing Huge Debt Crisis - World Bank   The World Bank has said that Nigeria and other developing countries are facing debt crisis, noting that the situation has intensified. The World Bank Group President, David Malpass, disclosed this in a statement titled, ‘Debt-Service Payments Put...

Subsidy: Petrol, Electricity Spent Inefficiently - World Bank The World Bank report has revealed that Nigeria's petroleum, electricity, and foreign exchange resources have been consumed by inefficient and regressive subsidiaries. This was contained in a statement on the bank’s website announcing the launch of the new...

Nigeria’s Poverty Exceeds World Bank Projection - NBS The National Bureau of Statistics has disclosed that 133 million Nigerians are multi-dimensionally poor. In its latest National Multidimensional Poverty Index report launched on Thursday, the NBS said that 63 per cent of Nigerians were poor due to...