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...

Nigeria Owes World Bank N3.96trn — DMO     Nigeria’s highest external debt stock to a multilateral or bilateral financial institution is its $10.46bn (N3.965tn at the official rate of N379/$) indebtedness to the World Bank Group, latest figures from the Debt Management Office have shown. An analysis...

Budget Support: IMF, World Bank Conditions Behind Subsidy Withdrawal, Electricity Tariff Hike     The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought by the International Monetary Fund and the World Bank, economic experts have said. The...

W/Bank Approves $75m Support Fund For Obaseki’s Education Reforms       On the back of successes recorded by the Governor Godwin Obaseki led administration in the education sector, the World Bank has approved a $75 million facility to support the governor’s vision of holistically revamping the state’s...

Reforms Delay $1.5bn World Bank Loan To Nigeria     The World Bank is unlikely to approve the much-needed $1.5 billion for Nigeria this month as planned due to concerns over desired reforms, it was gathered yesterday. A delay in financing from multilateral lenders could leave the economy...