World Bank has cut its global growth forecast for 2025 to 2.3%, citing mounting trade tensions and policy uncertainty, with growth forecasts being cut in nearly 70% of economies across all regions and income groups. According to the bank’s latest Global Economic Prospects report, this slowdown would mark the...
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The Minister of Water Resources and Sanitation, Prof. Joseph Utsev, has urged the World Bank to increase its support for Nigeria’s plans to upgrade existing dams and develop new irrigation systems. He said the enhanced support would help advance the Federal Government’s vision of achieving food security and boosting...
The Federal Capital Territory Administration (FCTA) with support from the World Bank is building an inclusive and accessible capital territory with equal opportunities for Persons with Disabilities (PwDs). FCT Minister of State, Dr Mariya Mahmoud, stated this in Abuja on Thursday, at the close of a three-day workshop on...
The Federal Government has inaugurated the Steering Committee for the Sustainable Power and Irrigation for Nigeria (SPIN) project aimed to enhance national food security, water management, and climate resilience. The project, valued at $500 million and supported by the World Bank, aims to deliver large-scale multi-purpose infrastructure for irrigation...
The Federal Government, on Wednesday, launched the National Procurement Certification Portal, NPCP, to enhance effective and transparent utilisation of public finance to broaden economic development in the country. The NPCP, which is a World Bank sponsored project, is the initiative of the Bureau of Public Procurement, BPP, under the...
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says Nigeria is working with the World Bank to develop a job-creation agenda. Edun made this known during an interview with journalists after the World Bank Development Committee plenary held on Friday in Washington D.C. He...
The International Monetary Fund (IMF), has urged Nigerian Government to be prudent in spending following implementation of hard economic reforms that has made it to save more revenue. The Director, Fiscal Affairs Department IMF, Vitor Gaspar, said this at a Fiscal Monitor news conference at the ongoing 2025 IMF/World...
The International Monetary Fund (IMF) has released it new economic outlook report, reversing Nigeria’s economic growth projections for 2025 and 2026. The April report was released on Tuesday during World Economic Outlook (WEO) at a press briefing at the ongoing IMF/World Bank 2025 Spring Meetings in Washington, D.C. The...
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has stated that the Federal Government’s economic reforms will foster long-term resilience aimed at lifting millions of Nigerians out of poverty. Edun said this during the ongoing International Monetary Fund (IMF)-World Bank 2025 Spring Meetings in...
The Minister of Finance and Coordinating Minister of Economy, Mr Wale Edun, has led the Nigeria’s delegation to the 2025 International Monetary Fund (IMF) Spring Meeting holding in Washington DC. The News Agency of Nigeria (NAN) reports that the meeting holding from April 21 to April 26 in the...
By AMOS MATHEW, Kaduna – The Arewa Youth Consultative Forum (AYCF) has extended its heartfelt commendation to the Kaduna State Governor, Senator Uba Sani, for his unwavering commitment to the development and progress of the state through the strategic partnership with the World Bank. AYCF President General Yerima Shettima...
By AMOS MATHEW, Kaduna – Kaduna State Governor, Uba Sani, has said that World Bank is funding 8 projects in the state, totaling over $885 million, which include the Adolescent Girls’ Initiative for Learning and Empowerment (AGILE) Project, with $80 million in credit. The governor made it known when...
The Lagos Chamber of Commerce and Industry (LCCI) has outlined strategic approaches aimed at maximising the benefits of the $500 million loan by the World Bank to Nigeria while mitigating associated risks. The Director General, LCCI, Dr Chinyere Almona, made this known on Tuesday in Lagos in reaction to...
Anambra State Governor, Chukwuma Soludo has said his administration pulled out of an existing loan arrangement with the World Bank to save the state from “debt overhang”. Soludo said this while addressing members of the Late Sen. Ifeanyi Ubah Media team, who were on inspection of the ongoing Government...
By JOHN ONAH, Abuja – Kogi State Government is set to benefit from a $500 million World Bank-assisted fund allocated across the 36 states of the federation and the Federal Capital Territory, Abuja to enhance access to high-quality basic education and primary healthcare services. The Kogi State Commissioner for...
A new World Bank report has revealed a steady rise in the adoption of Nature-Based Solutions (NBS) projects in Sub-Saharan Africa (SSA) to promote green and resilient development. This was stated in a press release obtained from the World Bank on Thursday by the News Agency of Nigeria (NAN)....
Zamfara State Governor, Dauda Lawal has assured the World Bank that his administration is gradually winning the war against banditry. This is contained in a statement by Lawal’s media aide, Suleiman Idris on Saturday in Gusau. Idris said Lawal gave the assurance when he visited the World Bank office...
) The World Bank has announced that it has earmarked 1.2 billion dollars for investment in girls’ education across 18 states. The states include; Borno, Ekiti, Kebbi, Kaduna, Plateau, Katsina, Kano, Adamawa, Kogi, Nasarawa, Niger, Bauchi, Jigawa, Yobe, Kwara, Gombe, Sokoto and Zamfara. The World Bank Country Director, Mr...
By CHRISTIANA LOT, Jos – The Plateau State Government has launched the Nigeria Solar for Health Project (NISHP) to equip 25 Primary Healthcare Centres (PHCs) across its 17 Local Government Areas with solar energy. This collaboration with the European Union (EU) marks a significant step in Governor Caleb Mutfwang’s...
By SADIQ ABUBAKAR, Maiduguri – Seven newly constructed landmark projects, including two housing estates, three schools, and a 1.2 km dual carriage way, executed by Borno State Governor Babagana Zulum have been commissioned. Nigeria’s World Bank’s representative, Dr Ndiame Diop, commissioned the two senior and one junior secondary schools;...