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World Bank News - Page 5

Sub-Saharan Africa’s Economic Growth Drops T0 2.5% In 2023 – W’Bank Report

The World Bank’s semi-annual Africa Pulse report has raised concerns about the economic future of sub-Saharan Africa. The report, released today, paints a grim picture of the region’s economic prospects, with projected growth rates plummeting to 2.5% for this year, from 3.6%

October 4, 2023

Africa·Business·Finance & Economy·News

World Bank Approves $700 Million Loan For Nigerian Girls’ Education Crisis

In a groundbreaking move to tackle the education crisis and empower adolescent girls in Nigeria, the World Bank has approved a substantial $700 million loan. This generous funding is set to breathe new life into the Adolescent Girls Initiative for Learning and

September 23, 2023

World Bank Stops Loan Disbursement To Uganda Over Anti-Homosexuality Law

Business·Finance & Economy·News·World News

Economy: World Bank Urges Nigeria To Revamp Macroeconomic Management For Growth

In a fresh perspective on Nigeria’s economic landscape, the World Bank has raised concerns over the country’s macroeconomic management, emphasizing the urgent need for structural reforms. The institution stressed the importance of these reforms to improve revenue mobilization and financial management, ultimately

September 13, 2023

Business·Finance & Economy·News·World News

World Bank Urges Nigeria to Increase Public Spending for Infrastructure

In a candid keynote address at the annual banking and finance conference in Abuja, the World Bank Country Director for Nigeria, Mr. Shubham Chaudhuri, underscored Nigeria’s dire need for increased public spending. Chaudhuri made a compelling case for bolstering government expenditures, describing

September 7, 2023

Business

World Bank, IMF, CBN Accused Of Sabotaging Nigeria, China Swap Deal Amid Low Utilisation

The World Bank and the International Monetary Fund (IMF) have been accused by a human rights lawyer, Femi Falana, of sabotaging the Nigeria and China swap deal. Falana said the global financial institutions are working with the Central Bank of Nigeria (CBN)

August 29, 2023

Africa·Business

World Bank Stops Loan Disbursement To Uganda Over Anti-Homos3xuality Law

World Bank has halted loan discussion and disbursement to Uganda’s government due to the East African country’s Anti-Homos3xuality Act 2023. In May, Uganda’s President Yoweri Museveni signed a bill criminalising homosexuality or same-sex conduct in the country. Anti-Homos3xuality Act 2023 signed by

August 9, 2023

Business

N8,000 Is Significant Amount For Nigeria’s Poor Households, World Bank Defends Tinubu

The World Bank has backed the N8,000 monthly intervention fund President Bola Tinubu initially proposed as a palliative to cushion the hardship caused by the removal of subsidy on Premium Motor Spirit (PMS). Prime Business Africa previously reported that President Tinubu said

July 28, 2023

Business

World Bank: Fuel Subsidy Removal To Reduce Money Supply In Nigeria, Raise Inflation Rate

The World Bank has disclosed that the money supply in Nigeria will drop due to President Bola Tinubu’s decision to remove fuel subsidy. This was disclosed in the international financial institution’s June 2023 edition of the Nigeria Development Update. Recall that Tinubu,

July 3, 2023

Emefiele Settles For Plea Bargain In N6.9bn Procurement Fraud Case

Business

World Bank Says CBN’s Naira Redesign Policy Affects Poverty Reduction In Nigeria

The World Bank said the Naira redesign policy of the Central Bank of Nigeria (CBN) hampered the growth of Nigeria’s economy. According to the financial body, the CBN’s Naira redesign policy has frustrated the effort to reduce poverty in Nigeria, where about

April 18, 2023

Nigerian Gov’t Spends N96 Out Of Every N100 To Pay Debt - World Bank Says, Reveals Impact

Business

Nigerian Gov’t Spends 96% Of Revenue To Service Debts- World Bank Reveals Impact

The World Bank said the Nigerian government spent 96.3 per cent of its revenue on servicing debt in 2022, indicating the country has a revenue and debt problem. This means for every N100 generated by the government, N96 is used to repay

April 18, 2023

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World Bank News - Page 5

Sub-Saharan Africa’s Economic Growth Drops T0 2.5% In 2023 – W’Bank Report

World Bank Approves $700 Million Loan For Nigerian Girls’ Education Crisis

Economy: World Bank Urges Nigeria To Revamp Macroeconomic Management For Growth

World Bank Urges Nigeria to Increase Public Spending for Infrastructure

World Bank, IMF, CBN Accused Of Sabotaging Nigeria, China Swap Deal Amid Low Utilisation

World Bank Stops Loan Disbursement To Uganda Over Anti-Homos3xuality Law

N8,000 Is Significant Amount For Nigeria’s Poor Households, World Bank Defends Tinubu

World Bank: Fuel Subsidy Removal To Reduce Money Supply In Nigeria, Raise Inflation Rate

World Bank Says CBN’s Naira Redesign Policy Affects Poverty Reduction In Nigeria

Nigerian Gov’t Spends 96% Of Revenue To Service Debts- World Bank Reveals Impact

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