Tag: World Bank

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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Insecurity to affect LGs in six Nigerian states in 2024 – World Bank

The World Bank has predicted that persistent insecurity, armed conflict, and deteriorating livelihoods will continue to affect local government areas in Borno, Kaduna, Katsina, Sokoto, Yobe, Zamfara states, and the…

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