The World Bank says it has so far spent about N7.78bn ($39m) on the third National Fadama Development Project Additional Financing as part of efforts to support Nigeria’s agriculture and economic diversification drive of the Federal Government.
The bank also said in a statement signed...
The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January.
The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows.
According to the latest...
Ahead of the commencement of the Buhari administration’s unprecedented infusion of half a trillion naira in social investment towards achieving a comprehensive safety net for poor and ordinary Nigerians, significant local and international support for the scheme is growing.
According to a federal government source,...
Amid improving market sentiment and a weakening dollar, the World Bank is raising its 2016 forecast for crude oil prices to $41 per barrel from $37 per barrel in itslatest Commodity Markets Outlook, as an oversupply in markets is expected to recede.
The crude oil market...
The World Bank has commended the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, for bringing transparency and accountability to bear on the operations of the NNPC and the entire Oil and Gas...
Fresh hope of a quicker recovery is on the horizon for cash-strapped Nigeria as the World Bank has raised its 2016 oil price forecast up from the previous level of $37 per barrel to a new height of $41.
The crude oil price at the...
