By Kofoworola Fakeye, JKNewsMedia Reporter ABOUT $717.7 million in undisbursed World Bank (WB) loan financing under the power sector recovery operation programme has been cancelled following a joint agreement between Nigeria’s Federal Government (FG) and the WB, according to a restructuring paper shared with the media. JKNewsMedia.com r...
By Adesola Alebiosu, JKNewsMedia Intern THIRD LARGEST borrower position from the International Development Association (IDA), the concessional lending arm of the World Bank (WB), has been retained by Nigeria despite a slight decline in its debt exposure in first quarter 2026. JKNewsMedia.com reports that according to IDA March 2026 financial s...
By Kofoworola Fakeye, JKNewsMedia Reporter GROSS DOMESTIC Product (GDP) growth rate in Nigeria slowed to 3.89 percent year-on-year in real terms in first quarter 2026 as the National Bureau of Statistics (NBS) released its latest GDP report on Monday. JKNewsMedia.com reports that NBS notes the figure marks a decline from 4.07 percent recorded...
By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s PUSH for a proposed $1.25bn World Bank (WB)loan to support economic reforms, job creation, and competitiveness has reached a critical stage in the lender’s approval process. JKNewsMedia.com reports that the proposed facility, titled “Nigeria Actions for Investment and Jobs Accel...
By Jemimah Wellington, JKNewsMedia Correspondent TRANSPARENCY, FISCAL discipline and ongoing economic reforms formed the focus as President Bola Tinubu met global investors in Paris, France, outlining the rationale for the swift implementation of key policy changes. JKNewsMedia.com reports that the meeting brought together major international...
By JKNewsMedia CALLS FOR urgent government action on workers’ welfare intensified as Nigeria marked International Workers Day (IWD) 2026, with Corporate Accountability and Public Participation Africa (CAPPA) pressing authorities to confront worsening socioeconomic conditions. JKNewsMedia.com reports that the organisation, in a statement issue...
By Ajibola Olaide, JKNewsMedia Reporter TRANSFER OF leadership at Nigeria’s Finance Ministry has been completed following a formal handover from the immediate past minister, Wale Edun to Taiwo Oyedele, with the process confirmed in an official statement. JKNewsMedia.com reports that the transition took place on Thursday evening and was disclo...
By Ebunoluwa Olawale, JKNewsMedia Intern HOUSING LOAN scheme of N10 billion has been approved to bridge the housing deficit and improve access to affordable homes for low- and middle-income workers. JKNewsMedia.com reports that the Head of Service of the Federation, Mrs Didi Esther Walson Jack, announced the scheme in Abuja on Friday during a ...
By Jemimah Wellington, JKNewsMedia Correspondent APPROVAL FOR a $516,333,007 foreign loan has been requested from the National Assembly by President Bola Tinubu to support sections of the Sokoto Badagry superhighway project. JKNewsMedia.com reports that the request was conveyed in a letter addressed to Senate President Godswill Akpabio and r...
By Jemimah Wellington, JKNewsMedia Correspondent PROGRESS RECORDED in Nigeria’s economy has been highlighted by the immediate former Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as he expressed satisfaction with his tenure following his resignation. Edun spoke a day after President Bola Tinubu announced his resigna...
