World Bank Predicts Nigeria’s Economic Growth to Decline in 2023 The World Bank recent report released in Washington on Tuesday tagged Africa’s Pulse has shown that Nigeria’s economic growth will slow from 3.3 percent to 3.2 percent next year, blaming the development on inflationary pressures. The...

World Bank To Raise $127bn For Mini-grid Power Funding   The World Bank Group will be raising $127 billion for mini-grip power funding by 2030. The bank said it will be leveraging development partner funding and government investment to “crowd in” private-sector finance for the project. It explained...

Nigeria Receives $700m as W’Bank Disburses $31.7bn Climate Fund In response to its prediction that Nigeria will lose 30% of its GDP due to climate change by 2050, the World Bank says it has disbursed $31.7bn as climate financing in its 2022 fiscal year. It stated...

Osinbajo Seeks World Bank Assistance for Poor Nigerians The World Bank Group (WBG) has expressed its readiness to help in increasing assistance to Nigeria’s poor and vulnerable. Vice President Osinbajo, in a tweet on Friday, said he met with WBG President, David Malpass, and discussed a...

Undisbursed Loans Raise Nigeria’s World Bank Debt To $21.15bn   Undisbursed loans may drive Nigeria’s debt to the World Bank from $12.72bn to $21.15bn. This shows that the yet-to-be disbursed loans can increase Nigeria’s debt to the lending institution by 66.27 per cent. The audited financial statements of...

States Receives N472bn World Bank-Assisted Fund - FG The Federal Government, says states had received N471.9bn of the $1.5bn World Bank-assisted States Fiscal Transparency, Accountability and Sustainability Programme for Results. It noted that in addition to the grant, all the 36 states had domesticated the fiscal...