How Inflation Impoverishes Nigerians - NBS     The National Bureau of Statistics (NBS) has validated a World Bank’s report which stated that not less than seven million Nigerians were thrown into poverty in 2020 due to the adverse impact of rising inflation. Head, Public Affairs and International...

FG Borrowed N1.3trn In Four Years To Subsidise Power Consumers - W/Bank     The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said. The bank said...

Rising Inflation Pushed 7million Nigerians Below Poverty Line – W/Bank       The World Bank has said rising prices pushed about seven million Nigerians below the poverty line in 2020. This was contained in a press statement titled ‘Critical reforms needed to reduce inflation and accelerate the recovery,...

W/Bank Okays $3bn For Vaccines In Africa, Others       The World Bank has announced that it has approved $3bn in funding to cover vaccination in 32 countries, 15 of which are in Africa. In a statement issued in advance of the G7 Leaders’ Summit, World Bank Group...

W/Bank Upgrades Nigeria’s Economic Growth Forecast To 1.8%       The World Bank yesterday upgraded its economic growth forecast for Nigeria in 2021 to 1.8 per cent, citing higher oil prices, structural oil sector reforms, and market-based flexible exchange rate management. This represents a 0.7 percentage point increase...

Nigeria Among Top Three Countries With Electricity Deficits – W/Bank         The World Bank has listed Nigeria among the three countries with the largest electricity deficits in the world. It said during the last decade, a greater share of the global population gained access to electricity than...