World Bank Raises Concern Over $32 Million ‘Unaccounted’ Funds In Nigeria’s Water Project …C0NTINUE READING HERE >>> The World Bank has raised concerns over $32m in unaccounted funds from a Nigerian water sector project, sparking fears of embezzlement and mismanagement. According to the FY2024 Sanctions System Annual Report, the Bank’s Integrity Vice Presidency (INT) discovered … Read more
Global commodity prices set to fall …C0NTINUE READING HERE >>> The World Bank has projected energy prices to drop by six percent in 2025, and an additional two percent in 2026. Also, it said that global food prices are set to fall nine percent this year, and an additional four percent in 2025 before leveling … Read more
Economist warns FG against World Bank, IMF …C0NTINUE READING HERE >>> The Chief Economist at SPM Professionals, Paul Alaje, has called on the Federal Government to be careful with advice given by global financial institutions like the World Bank and the International Monetary Fund (IMF). He made the call during an interview on Channels Television’s … Read more
NLC condemns World Bank’s call for Tinubu to continue reforms …C0NTINUE READING HERE >>> The Nigerian Labour Congress (NLC) has called on President Bola Tinubu to reject the World Bank’s advice regarding the country’s ongoing economic reforms. The financial institution had recently advised Tinubu not to reverse the reforms despite the widespread hardship across the … Read more
Don’t reverse current economic reforms- World Bank warns FG …C0NTINUE READING HERE >>> Despite hardship in the country, World Bank has advised the federal government not to reverse the ongoing economic reforms, warning that it may have negative implications for the country. Speaking at the launch of the Nigeria Development Update (NDU) report … Read more
World Bank Says Naira Is Among Worst Performing Currencies in Africa …C0NTINUE READING HERE >>> According to the World Bank, Naira is among Africa’s worst-performing currencies. Newsone Nigeria reports that Nigeria’s official legal tender, the Naira is among the worst-performing currencies in sub-Sahara Africa at the end of August 2024. This online news platform understands that … Read more
Ending poverty can take over 100 years – World Bank …C0NTINUE READING HERE >>> The World Bank says it could take more than a century to eliminate poverty for nearly half the world. According to the Bank’s new Poverty, Prosperity, and Planet Report released on Tuesday, this accounts for people who live on less than … Read more
World Bank approves $500m COVID-19 grant for Nigeria …C0NTINUE READING HERE >>> The World Bank has announced a 500-million-dollar grant to support Nigeria’s recovery efforts from the impacts of the COVID-19 pandemic. The fund will be utilised through the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) programme. NAN reports that the … Read more
Nigeria spent N10trn subsidizing petrol, exchange rates by 2022 — World Bank reveals …C0NTINUE READING HERE >>> The World Bank has revealed that Nigeria spent N10 trillion a year subsidizing petrol and exchange rates by 2022. According to Indermit Gill, Senior Vice President of the World Bank Group, this figure, amounting to $15 billion at … Read more
World Bank approves fresh $500m loan for Nigeria …C0NTINUE READING HERE >>> The World Bank has approved a 500 million dollar loan to support the Sustainable Power and Irrigation for Nigeria (SPIN) project aimed at reducing climate-induced challenges. Mr Chakib Jenane, World Bank’s Regional Director, Sustainable Infrastructure Development for West and Central Africa, … Read more