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 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 CLAIMS OF alleged diversion of federation earnings have been dismissed by the Federal Ministry of Finance, which said recent reports misrepresent findings contained in the latest Nigeria Development Update (NDU) by the World Bank (WB). JKNewsMedia.com reports that a government statement signed ...
By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s ECONOMIC growth projection for 2026 has been revised downward to 4.1 percent by the World Bank, reflecting structural constraints and global uncertainties. JKNewsMedia.com reports that the revision was contained in the April 2026 Africa Economic Update titled “Making Industrial P...
By Jemimah Wellington, JKNewsMedia Correspondent ECONOMIC REFORMS are set to lift Nigeria’s growth rate to 4.4 percent in 2026 and 2027, driven by new tax laws, prudent monetary policies, and other measures, the World Bank (WB) has said. The bank disclosed this projection in its Global Economic Prospect (GEP)report released in January 2026. I...
By Ajibola Olaide, JKNewsMedia Reporter RISING LOAN approvals, ongoing negotiations and phased disbursements across multiple sectors are set to push World Bank lending to Nigeria to $9.65 billion between 2023 and 2025 by the end of this year. The projected figure covers loans from the International Bank for Reconstruction and Development (IBR...
By Jemimah Wellington, JKNewsMedia Correspondent CENTRAL BANK Governor Olayemi Cardoso will head Nigeria’s delegation to the 2025 World Bank and International Monetary Fund (IMF) Annual Meetings scheduled to open on Monday, October 13, in Washington DC. The delegation, which includes the Minister of State for Finance, Doris Uzoka-Anite, will ...
By Jemimah Wellington, JKNewsMedia Correspondent WORSENING LIVING conditions in Nigeria are driving millions deeper into extreme poverty, the World Bank has warned, placing the country among 39 fragile and conflict-affected states experiencing severe socio-economic decline. In ITS recent post-pandemic review, the World Bank identified Nigeria ...
By Ajibola Olaide, JKNewsMedia Reporter THE WORLD Bank has forecast a troubling increase in poverty levels in Nigeria over the next five years, projecting a rise of 3.6 percentage points by 2027. The projection, revealed in the Bank’s latest Africa’s Pulse report, comes during the ongoing Spring Meetings of the International Monetary Fu...
