Nigeria Faces Worst Recession In 40 Years - World Bank
The collapse in oil prices resulting from COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s, the World Bank has said.
The bank stated this in...
World Bank Approves $750m For Nigeria’s Power Sector
The World Bank has approved a $750 million International Development Association credit for Nigeria’s Power Sector Recovery Operation.
This was contained in a statement issued by the bank on Wednesday.
The statement quoted World Bank Country Director for Nigeria,...
W/Bank: Poorest Countries To Save $12bn In 2020 Debt Relief
The world’s poorest countries could save over $12 billion owed to sovereign and other creditors this year through their participation in a debt-relief program, with Angola alone saving some $3.4 billion, according to estimates published...
With More Transparency, Nigeria Recovers $3bn from Oil Sector - W/Bank
The World Bank and the Extractive Industries Transparency Initiative (EITI), the global standard for the promotion of openness in the oil, gas and mineral resources management, have said Nigeria has so far recovered about...
COVID-19 Fallout Could Last For A Decade - World Bank President
President of the World Bank Group, David Malpass, has described COVID-19 as a ‘devastating blow’ for the global economy, and warned that the fallout from the pandemic could last for a decade.
Malpass, an economist,...
World Bank Approves $346m For Lake Chad Region Projects
The World Bank has approved $346m for two projects aimed at strengthening resilience and livelihoods in the Lake Chad region.
A statement from the World Bank on Wednesday explained that the projects, to be financed through the...
