W/Bank Says COVID-19 Pushed 100m People Into Extreme Poverty           The World Bank Group has called on lower-income countries to prioritise concessional financing and avoid the high interest rate financing that has become increasingly problematic. According to a statement issued by the Word Bank Group President, David...

W/Bank Says Nigeria, 39 Others May Not Attain Pre-COVID-19 GDP Levels By 2026             The World Bank has said that Nigeria and 39 other countries may not return to pre-COVID-19 levels of Gross Domestic Product per capita even by 2026 despite projected rates of economic growth. It...

Nigeria Could Save $432.6m In Debt Service Suspension – W/Bank       The World Bank has disclosed that Nigeria could save about $432.6m from May 2020 to December 2021 through the debt service suspension initiative. It disclosed this in a brief on COVID-19: Debt Service Suspension Initiative updated...

Nigerians In Diaspora Remit $65.34bn In Three Years       The Nigerian Diaspora population remitted $65.34bn in three years to boost economic activities in the country, data obtained from the World Bank have shown. According to the World Bank data, in 2018, the Nigerian Diaspora remittance was $24.31bn;...

W/Bank Lists Nigeria, Nine Others High-debt Risk Nations       The World Bank has stated that Nigeria is among a list of top 10 countries with high debt risk exposure. It stated this in the financial statement for International Development Association, which was among the World Bank FY21...

Loans From W/Bank, AfDB Rise To $14.35bn Under Buhari's Administration       Nigeria’s liabilities to the World Bank and the African Development Bank rose from $7.14bn to $14.25bn between June 30, 2015 and March 31, 2021, data obtained from the Debt Management Office have shown. This means that...