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...
COVID-19: World Bank Approves $114.28m For Nigeria
The World Bank board of directors has approved $114.28m financing to help Nigeria prevent, detect and respond to the threat posed by COVID-19 with a specific focus on state level responses.
The bank said this in a statement titled...
Experts Support FG, W/Bank On DisCos’ Audit Before $500m Loan
Experts in the Nigerian Electricity Supply Industry (NESI) have backed the plan of the federal government and the World Bank to run a forensic audit on power Distribution Companies (DisCos) before they could access a...
