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...
By Jemimah Wellington, JKNewsMedia Reporter IN A scathing critique of international financial institutions, Akinbode Oluwafemi, Executive Director of Corporate Accountability and Public Participation Africa (CAPPA), presented a damning report that unveils how World Bank-backed water privatisation reforms have failed to address Nigeria’s growi...
By Joke Kujenya RISING LEVELS of hunger and malnutrition continue to challenge many low-income nations, especially in Africa, with millions facing severe food insecurity. The crisis, intensified by conflicts and climate change, has worsened in East and West Africa, where nearly 111 million people are at risk, according to the World Bank’...
By Jemimah Wellington, JKNewsMedia Reporter THE WORLD Bank has expressed concerns about Nigeria’s financial management, criticizing the government’s spending practices amid growing economic challenges. According to a report by the World Bank, the current administration under President Bola Tinubu has been urged to eliminate non-essential...
By Joke Kujenya NIGERIA’s POWER sector faces pressing challenges as efforts intensify to boost electricity access nationwide. Wale Edun, the Honourable Minister of Finance and Coordinating Minister of the Economy, met with Guangzhe Chen, Vice President for Infrastructure at the World Bank, to tackle these issues and accelerate reforms. The dis...
By Joke Kujenya IN FUNDING to support Nigeria’s economic stabilization and reform initiatives, the World Bank has approved $2.25 billion loan. The package includes $1.5 billion for the Nigeria Reforms for Economic Stabilization to Enable Transformation (RESET) Development Policy Financing Programme and $750 million for the Nigeria...
