FG Requests $600m W/Bank Loan To Fight Erosion   The Federal Government on Wednesday announced plans to tackle land degradation in the 19 northern states and the Federal Capital Territory with a $600m loan from the World Bank. It disclosed this at a consultative workshop on climate-resilient...

W/Bank, AfDB Approved $2.83bn For Nigeria In 2021   The World Bank and the African Development Bank approved a total sum of $2.83bn to Nigeria in 2021. However, the financing is not limited to the Nigerian government, as it also covers Nigerian agencies and firms. This was according...

Kano Govt Approves N500m Counterpart Fund For W/Bank Climate Project   The Kano State Executive Council has approved N500m as counterpart funding for the implementation of a six-year World Bank-assisted project, tagged ‘Agro Climatic Resilience in Semi-Arid Landscapes’. The Commissioner for Information, Malam Muhammad Garba, disclosed this...

Higher Oil Prices’ll Drive Nigeria’s Economy By 2.5% In 2022 – W/Bank   The World Bank has projected a 2.5 per cent economic growth for Nigeria in 2022, and 2.8 per cent in 2023. This 2022 forecast is a slight upward review from the estimated 2.4 per...

Nigeria’s Debt Vulnerable, costly - W/Bank   The World Bank has disclosed that Nigeria’s debt, which may be considered sustainable for now, is vulnerable and costly. According to the Washington-based global financial institution, the country’s debt is also at risk of becoming unsustainable in the event of...

Nigeria’s Inflation Rate May Be Among World’s Highest In 2022 – W/Bank   The World Bank has said Nigeria may have one of the highest inflation rates globally in 2022, with increasing prices diminishing the welfare of Nigerian households. According to the World Bank, Nigeria is projected...