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Tag: World Bank
Nigeria’s water sector faces embezzlement concerns -World Ban
The World Bank has identified $32m in unaccounted funds in a Nigerian water sector project, raising concerns over likely embezzlement and mismanagement. According to the newly released FY2024 Sanctions System…
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Naira among worst performing currencies in Africa – World Bank
The naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024. This is according to the latest edition of Africa’s Pulse, a new report by the World…
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How Tinubu Govt Borrowed $6.45bn From W’Bank In 16 Months
The President Bola Tinubu-led Federal Government has secured loans worth $6.45bn from the World Bank in just 16 months. The amount increased to the new figure following the recent approval…
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World Bank approves $1.57bn loan for Nigeria
The World Bank has again approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal…
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Minister Of Power, Adebayo Adelabu Promises Future Reduction In Electricity Tariffs
The Minister of Power, Adebayo Adelabu on Friday told Nigerians that the current electricity tariffs will be reduced with time. He said the tariffs may appear expensive for now but…
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Tinubu Approves $750 Million For Rural Electrification
The Federal Government has approved a $750m World Bank funding for constructing 1,200 mini-grids in rural communities across Nigeria. Abba Aliyu, the Managing Director/Chief Executive Officer of the Rural…
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FG to resell DisCos under banks, AMCON in three months
The President Bola Tinubu-led federal government has vowed to sell off the five electricity Distribution Companies (DisCos) now under the management of banks and Asset Management Company (AMCON) in the…
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Nigeria’s inflation rate will drop to 23% by 2025 : IMF
In a recent release of its Global Economic Outlook at the International Monetary Fund/World Bank Spring Meetings in Washington D.C., on Tuesday, the IMF provided projections for Nigeria’s economy, indicating…
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Pres. Tinubu Moves To generate annual $2.7bln revenue, Inaugurates National Single Window Committee
In a bid to achieve optimization of revenue generation and enhance ease of doing business in the country, President Bola Tinubu, on Tuesday, inaugurated a steering committee to drive an…
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Tinubu’s Govt Seeks $1.5bn Loan To Shore Up Naira, Boost Budget
Nigeria is seeking $1.5bn aid from the World Bank to tackle the severe dollar shortage contributing to the decline of the naira. “We’re hoping to get $1bn or $1.5bn from…
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