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Tag "World Bank"

World Bank: Developing countries spent $443bn on debt servicing in 2022 | Nigeria, Tanzania are top borrowers

    World Bank: Developing countries spent $443bn on debt servicing in 2022 | Nigeria, Tanzania are top borrowers

World Bank says developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debts in 2022. According to the bank’s 2023 International Debt Report, released

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World Bank: Number of poor Nigerians increased by 24m between 2018 and 2023

    World Bank: Number of poor Nigerians increased by 24m between 2018 and 2023

The World Bank says poverty rate in Nigeria has increased to 46 percent in 2023, representing 104 million poor Nigerians. This was disclosed in World Bank’s Nigeria development update, titled,

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World Bank hints at ‘partial return’ of subsidy in Nigeria, says petrol should cost N750/litre

    World Bank hints at ‘partial return’ of subsidy in Nigeria, says petrol should cost N750/litre

The World Bank says Nigeria’s petrol should be priced at N750 per litre at the pumps. Alex Sienaert, the bank’s lead economist for Nigeria, made this known during his presentation

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FG, World Bank to collaborate on technical assistance for mining industry

    FG, World Bank to collaborate on technical assistance for mining industry

The federal government says the World Bank is exploring collaboration opportunities with the country to unlock financing and technical support for the development of the mining sector. Speaking during a

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Report: Eni suspends OPL 245 arbitration at World Bank— days after FG withdrew $1.1bn suit

  Report: Eni suspends OPL 245 arbitration at World Bank— days after FG withdrew $1.1bn suit

Eni, an Italian oil company, has temporarily suspended arbitration in the oil prospecting licence (OPL) 245 dispute with the Nigerian

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World Bank: We’ve committed over $11bn to Nigeria in 3 years | Country at critical stage

  World Bank: We’ve committed over $11bn to Nigeria in 3 years | Country at critical stage

Shubham Chaudhuri, World Bank country director for Nigeria, says the bank has committed over $11 billion in the past three

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FEC approves $3.45bn World Bank loan | Power tops list

  FEC approves $3.45bn World Bank loan | Power tops list

The federal executive council (FEC) has approved the sum of $3.45 billion in loans for the execution of five projects.

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Akpabio: Nigeria’s destiny NOT in the hands of World Bank

  Akpabio: Nigeria’s destiny NOT in the hands of World Bank

Senate President Godswill Akpabio says Nigeria’s destiny is not in the “hands” of the World Bank as the organisation does

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Tinubu appoints Olasupo Olusi, World Bank economist, as BoI CEO

  Tinubu appoints Olasupo Olusi, World Bank economist, as BoI CEO

President Bola Tinubu has appointed Olasupo Olusi, a World Bank economist and development finance expert, as the new managing director

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Moghalu faults FG’s $1.5bn World Bank loan, SUVs purchase for lawmakers

  Moghalu faults FG’s $1.5bn World Bank loan, SUVs purchase for lawmakers

Kingsley Moghalu, former deputy governor of the Central Bank of Nigeria (CBN), has faulted the federal government’s plan to borrow

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