Nigeria’s Exchange Rate Strategy Discourages Investors, Increases Inflation – W/Bank   The World Bank says the Nigerian government’s exchange rate management policies are discouraging investments and fuelling inflation in the country The bank disclosed this in the November edition of its Nigeria Development Update. While highlighting the role...

Dollar Shortage, Subsidy, Deficit Financing Threatening Nigeria’s Growth – W/Bank   The World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage, petrol subsidy and the fiscal deficit financing by the Central Bank of Nigeria. The bank disclosed...

Nigerians In Diaspora Spent $2.94bn To Send $34.8bn – Report   Nigerians in Diaspora spent $2.94bn to send $34.8bn to Nigerian between 2020 and 2021, World Bank reports have revealed. The reports showed that cost of sending remittance costs into Nigeria hit at least N1.22tn ($2.94bn) in...

W/Bank Projects $17.6bn Diaspora Remittance To Nigeria   The World Bank has projected $17.6 billion Diaspora remittances into Nigeria in 2021, representing 2.5 per cent increase from $17.2 billion recorded in 2020. The Bank gave this projection in a report titled, “Migration and Development Brief 35”, attributing...

Nigeria’s Remittance Inflow Rebounds, Now $17.6bn - W/Bank Nigeria’s remittance inflow is set to hit $17.6bn and push inflows to Sub-Saharan Africa to $45bn in 2021, a new report by the World Bank has indicated. Remittance inflow to Nigeria was $17.2bn as of December, 2021. The World...

Inflation May Push 91m Nigerians Below Poverty Line – W/Bank The World Bank says the general increase in food prices which occurred between June 2020 and June 2021 may have increased the percentage of Nigerians living below the national poverty line from 40.1 per cent...