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’...

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...