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...

Fed Govt Received $339m From World Bank In 2022   The Federal Government has received $338.98m from the World Bank in 2022, which it plans to release to states soon. The funds were released under the State Fiscal Transparency, Accountability and Sustainability project, which was initiated in...

Naira Depreciation: Nigeria’s Food, Energy Crisis to Worsen - W’Bank The World Bank’s latest Commodity Markets Outlook report has revealed that the weakening value of the Nigerian naira and the currencies of most developing economies has driven up food and fuel prices in ways that...

IMF, World Bank to Assess Nigeria’s Debt Sustainability The President of the World Bank Group, David Malpass, has said that the bank will work with the International Monetary Fund to assess Nigeria’s debt sustainability. Malpass said this during the 2022 annual meetings opening press conference in...

IMF Warns CBN of Financial Instability with Rate Hikes The International Monetary Fund has warned that Nigeria and other emerging economies are at risk of financial instability if benchmark interest rates are continuously raised. In a new report entitled, “Interest Rate Increases Volatile Markets Signal Rising...