Technical Problems Responsible For Oil Production Decline - World Bank   The World Bank has stated that technical problems, insecurity, rising production costs, theft, lack of payment discipline in joint ventures, etc. were responsible for the 40 per cent decline of Nigeria’s oil production last year. The...

2023/2024: World Bank Projects Weaker Economic Growth for Nigeria Nigeria's economy has once again been downgraded by the World Bank Group, largely due to a weak oil sector. On Tuesday, the bank published its Global Economic Prospects report, citing that Nigeria’s economy will further decelerate to 2.9...

A Second Look at Yahaya Bello's World Bank Transparency Award, by Nafisat Bello   Governor Yahaya Bello's work rate, tight schedule and the fact that he has packed his cabinet with equally youthful commissioners and aides are responsible for the way Kogi state is often in...

World Bank Says CBN Loan Repayments To Gulp 62% Of Revenue   The World Bank has projected that interest payments on the Federal Government’s borrowing from the Central Bank of Nigeria will gulp about 62 per cent of government revenue by 2027 despite the restructuring plan. The...

World Bank to CBN: Naira Redesign will Negatively Impact Economy, Poor Households The World Bank has warned that the short transition period to the redesigned naira notes will negatively impact economic activities, especially among the poorest households in the country. The bank in its latest Nigeria...

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’...