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...
79 million Nigerians Extremely Poor In 2018 – W/Bank
Nigeria has the largest poor population in sub-Saharan Africa, with 79 million extremely poor in 2018, the World Bank said in a new report on Wednesday.
The country accounts for 20 per cent of the total poor...
Fresh World Bank, AfDB, IDB Loans May Raise Nigeria’s Debt To N31.7trn
fresh loan disbursements expected from the World Bank, African Development Bank and Islamic Development Bank may raise Nigeria’s total public debt stock to N31.699tn in coming months.
Nigeria currently expects about $1.844bn (N699.1bn at...
DPR: $1.5bn World Bank Loan May Be Needless
The Department of Petroleum Resources (DPR) at the weekend said with the remittance of at least $1.03billion to the Federation Account and an additional $600million expected from oil and gas royalties and legacy debts, the delayed $1.5...
