Nigeria’s Per Capita Income May Hit 40-year Low – W/Bank       The World Bank said on Monday that Nigeria’s per capita income could fall in 2020 to its lowest level in 40 years. The bank also raised concern about the debt service cost being incurred by the...

Low, Middle Income Countries To Attract $508bn Remittances       The World Bank has projected that remittances by migrant workers to low and middle income countries (LMICs) will drop to $508 billion in 2020. In a migration and development report released by the bank, it said the economic...

W/Bank Pledges $72m For States’ Land Administration Records       The World Bank has expressed willingness to give each state of the federation a grant of two million dollars to enable them to update their property records. This, however, is based on the condition that benefiting states capture...

W/Bank Projects Oil Price Of $44 In 2021       The World Bank has said that oil prices won’t be rising much next year either, but would average $44 per barrel, saying that prices will not recover to pre-pandemic levels at least until 2022. In its semi-annual Commodity...

World Bank, IMF Plan debt reduction for IDA countries The World Bank and International Monetary Fund (IMF), have proposed to undertake a joint action plan on debt reduction for the most indebted International Development Association (IDA) countries. Mr David Malpass, the President, the World Bank Group,...

W/Bank Supports FG On Petrol Subsidy Removal       The World Bank said on Thursday that the removal of petrol subsidy in Nigeria was an important step amid the COVID-19 crisis. The bank, in its ‘Africa’s Pulse’ report entitled ‘Charting the road to recovery’, said countries in sub-Saharan...