Nigeria Owes World Bank, Eurobond, Others N12trn         At least, 67 per cent of the $31.985 billion (N12.193 trillion) outstanding external debt of Nigeria is for loans taken as Eurobond, a commercial loan, and from the International Development Association (IDA) as of September 2020. According to records...

House Summons Finance Minister Over $36.1m World Bank Loan         The House of Representatives has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, over a $36.1m facility under the Fiscal Governance and Institutions Project of the World Bank, part of which was allocated...

REA Secures World Bank, AfDB Funds For Power Projects         The Rural Electrification Agency has secured funding from the World Bank and the African Development Bank for the development of power projects in universities and teaching hospitals. The Managing Director of REA, Ahmad Salihijo, disclosed this at...

Poor Nigerians Will Reach 100 Million By 2022 – W/Bank       The World Bank on Thursday projected that the number of poor Nigerians will increase from the current 90 million to about 100 million by 2022 due to the impact of the COVID-19 pandemic on the...

W/Bank Withholds $1.5bn Loan To Nigeria         Nigeria got a caveat on Thursday to get approval for a $1.5 billion loan she is seeking from the World Bank. The reforms around the naira must be strengthened by the Federal Government, the financial institution is insisting. According to...

House Summons Auditor General Over $36.1m W/Bank Loan         The House of Representatives has summoned the acting Auditor General of the Federation, Mr Aghughu Adolphus, over a $36.1m facility under the Fiscal Governance and Institutions Project of the World Bank, to the office. The House Committee on...