The World Bank has approved $300 million to support more than 3.5 million internally displaced persons (IDPs) and their host communities in northern Nigeria.
The Solutions for the Internally Displaced and Host Communities Project (SOLID) was approved on August 7.
It will focus...
The Federal Government, in collaboration with the World Bank, has earmarked $600 million for the next phase of the Rural Access and Agricultural Marketing Project (RAAMP) to enhance agricultural productivity and boost rural economies.
Speaking at a press briefing in Abuja, Minister...
The Central Bank of Nigeria (CBN) has reported that the country’s external reserve has risen to $40.2 billion, as of last week, reflecting a substantial increase from the previous year's reserve of less than $34 billion.
CBN Deputy Governor for...
The International Monetary Fund (IMF) has revised Nigeria’s 2024 growth projection to 2.9%, down from 3.3%, citing ongoing macroeconomic challenges such as recent flooding and oil production disruptions. The revision was part of the IMF’s latest World Economic Outlook...
The World Bank Country Director for Nigeria, Ndiame Diop, has encouraged Nigerians to bear what he described as “short-term pressures” as he argued the Country will be on the brink of economic collapse without the reform policies of President...
Vice President and Chief Economist of The World Bank, Mr. Indermit Gill, has said that the Federal Government should sustain ongoing reforms despite the hardship on Nigerians. Gill made the assertion when he spoke at the opening session of...
The world bank has approved a total of $2.25 billion loan facility for Nigeria to help stabilise its economy following reforms and scale up support for the poor, it said in a statement on Thursday.
The statement from the international...
Nigeria’s revenue from the manufacturing export sector has reduced by 166 percent according to the world bank. Revenue realized from the sector plunged to ₦778.4 billion from the ₦2 trillion peaked it reached in 2019.
According to a newly published...
The world bank has said the federal government’s ₦5,000 cash transfer scheme had little impact on household consumption and financial inclusion.
Officials of the bank revealed this in its latest report, titled, ‘beta don come: effects of cash transfers on...
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Workers residing in Abuja are grappling with rising transportation costs, with many spending a significant portion of their income...
