Nigeria takes World Bank loan of $1.57 bn for 3 projects Nigeria has again taken another World Bank loan worth $1.57 billion to finance three projects in the health and educational sectors. The bank had earlier approved $2.25 billion loan for the country to boost its economic reforms. According[Read More…]
Nigeria seeks $500m World Bank loan for dam safety, others The Federal Government has requested a $500m loan from the World Bank to improve dam safety and enhance water resource management across the federation. The request was disclosed in World Bank’s Project Information Document on Monday. According to the document,[Read More…]
World Bank backs Nigeria’s plans to introduce telecoms, gambling taxes The World Bank has said that its $750 million loan to Nigeria will support the federal government’s policy reforms. World Bank made this disclosed in the programme appraisal document — dated May 17, 2024 — on the proposed[Read More…]
World Bank approves $2.25 billion loan to back Tinubu’s reforms Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy announced Thursday night the approval of two major financial support packages by the World Bank. The loans are part of President Tinubu’s ongoing efforts to stabilise the economy,[Read More…]
World Bank to CBN: Interest rate hikes may not effectively combat inflation The World Bank has said that there is a possibility the monetary policy tightening by the Central Bank of Nigeria (CBN) would not rein inflation. In its global economic prospects report released on Wednesday, the Bretton Woods institution[Read More…]
FG to get $2.25bn loan from World Bank in June The World Bank will, in June 2024, consider and give final approval to Nigeria’s $2.25 billion loan request, the finance ministry said Monday. The loan comprises a $1.5 billion loan in Development Policy Financing and another $750 million in[Read More…]
World Bank says Nigeria’s poor growth will weaken West Africa’s economy The World Bank has said that the lower-than-average growth in Nigeria will hold back the sub-region’s economic performance. The Washington-based lender in a report on the economic outlook of Western and Central Africa stated[Read More…]
FG wants $1.5b World Bank Loan to support Naira The Federal Government of Nigeria is seeking a new $1.5 billion loan from the World Bank to support naira exchange value. The loan if given will raise the country’s debt to $115.85 billion, having piled up in the Muhammadu Buhari years[Read More…]
Nigeria Ranks 4th On World Bank Borrowers’ List With $14.3Billion Debt World Bank has ranked Nigeria fourth position on the top 10 of its International Development Association (IDA) borrowers’ lost with $14.3 billion in debt. This was revealed in a World Bank Fiscal Year 2022 audited financial statement, which[Read More…]
World Bank, FG partner to rollout digital national IDs for Nigerians Shubham Chaudhuri, World Bank country director for Nigeria, says the multilateral lender is collaborating with the federal government to ensure the successful rollout and registration of digital national IDs for all Nigerians. Chaudhuri made this known at a[Read More…]
