World Bank
COVID-19: Nigeria on the brink of ‘severe recession’ — World Bank
The World Bank says collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. The World Bank made this known in a statement in Abuja on Thursday as part of its latest Nigeria Development Update (NDU). The bank said …
World Bank approves $750 million for Nigeria’s power sector
World Bank has approved a $750 million International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO) to improve electricity supply. The bank, in statement in Abuja on Wednesday, said that the target was to also achieve financial and fiscal sustainability and enhance accountability in Nigeria’s power sector. It explained that about 47 …
BREAKING: Nigeria gets $3bn power loan from world bank
Gbeleyi Abayomi The World Bank has agreed to give Nigeria a $3 billion loan for the expansion of the transmission and distribution facilities of the power sector. The minister of finance, Zainab Ahamed made this known on Sunday while addressing journalists, on the activities of Nigeria at the annual meetings of the International Monetary Fund …
NIGERIA IMPROVES ON THE EASE OF DOING BUISNESS
Gbeleyi Abayomi The World Bank has listed Nigeria as one of the top 20 countries that improved and carried out reforms in the Ease of Doing Business. The Bretton Wood institution made this known in a report released on Friday. More to follow…
Nigeria: Why is it struggling to meet its tax targets?
Nigeria could be facing a fiscal crisis if it doesn’t improve its ability to collect taxes, the authorities have warned. Government expenditure has doubled and debt servicing costs have grown, but revenues have missed their targets by at least 45% a year since 2015. Despite that, the Nigerian president’s office has praised the work of …
Why I Wrote Book On Jonathan’s Government” – Okonjo-Iweala
Former Minister of Finance, Ngozi Okonjo-Iweala, has revealed why she wrote the new book that exposes certain things that happened during the immediate past administration of President Goodluck Jonathan. Okonjo-Iweala spoke at the event preceding the signing of the book she entitled, “Fighting Corruption is Dangerous: The Story Behind the Headlines” held at the Politics …
Lagos strategic to Nigeria’s economic growth — World Bank
The World Bank on Thursday said that the role of Lagos to Nigeria’s stability and growth could not be overemphasized, as the State remains the economic gateway to the country and for the rest of the world. Country Director of World Bank, Mr. Rachid Benmessaoud who spoke when he paid a courtesy visit to Governor …
World Bank showers encomium on Ambode for infrastructure development
The World Bank has expressed its readiness to further partner and assist Lagos State government to deliver more on key infrastructural projects in appreciation of good governance put in place by the Governor Akinwunmi Ambode-led administration This assurance was given at the weekend by the Managing Director and Chief Financial Officer of the World Bank, …
