Extremely Poor People Reside in Nigeria, Congo - W’Bank Report The World Bank in its latest 2022 Poverty and Prosperity Report says many extremely poor people in the world are in Nigeria and Congo. The financial institution, however, noted that despite having a large share of...

World Bank Projects 102% Revenue, Debt Service For Nigeria     The World Bank has said that public debt in Nigeria is concerning due to the rising debt service-to-revenue ratio. According to the bank, the debt service to revenue ratio could stand at 102.3 per cent by the...

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...