W/Bank To Invest $150bn In Africa       The President of World Bank Group, David Malpass, has said that the bank plans to invest $150 billion in Africa within the next five years towards promoting development on the continent. Malpass disclosed this on Tuesday at the Summit on...

Nigeria, Six Others Account For 65% Global Gas Flaring – W/Bank       The World Bank on Wednesday said Nigeria and six other countries were responsible for two-thirds of global gas flaring. It said this in a statement titled ‘Seven countries account for two-thirds of global gas flaring’. The...

FG Spends N568.5bn Yearly On Power Tariff Shortfalls – W/Bank       The Federal Government of Nigeria is spending $1.5bn (N568.5bn at N379/$ exchange rate) annually to fund electricity tariff shortfalls, the World Bank has said. According to the global financial institution, this amount could further increase if...

Nigeria Businesses Lose $29bn Yearly To Poor Electricity – W/Bank       The World Bank on Wednesday said businesses in Nigeria lose about $29bn annually as a result of the country’s unreliable electricity. It also observed that Nigeria had the largest number of people without access to electricity...

W/Bank To Address Nigeria, Poor Countries’ Debt Overhang     The President, World Bank Group, Mr David Malpass, said the group is working actively in collaboration with the International Monetary Fund on the common framework that the G20 established for dealing with debt overhang and debt burdens. He...

Sub-Saharan Africa Growth To Hit 3.4% In 2021 — W/Bank       Economic growth in Sub-Saharan Africa (SSA) is expected to rise between 2.3 percent and 3.4 percent in 2021 after contracting by 2 percent last year. Stating this yesterday, the World Bank also said that prospects for...