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FG In Talks With World Bank For $1.5bn Loan – Edun

FG In Talks With World Bank For $1.5bn Loan – Edun

The Nigerian government has disclosed its currently in talks with the World Bank for a $1.5 billion loan to support the budget and also provide liquidity in the forex market. Wale Edun, Minister of Finance…

2024: World Bank Predicts Insecurity, Economic Hardship, Others In Nigeria

2024: World Bank Predicts Insecurity, Economic Hardship, Others In Nigeria

World Bank on Wednesday forecasted that persistent insecurity, armed conflict, and worsening livelihoods will continue to affect Local Government Areas in Borno, Kaduna, Katsina, Sokoto, Yobe, Zamfara states, and the far north of Adamawa State…

World Bank: Nigeria Needs Complementary Reforms To Stabilise Forex

World Bank: Nigeria Needs Complementary Reforms To Stabilise Forex

The World Bank has said several complementary reforms are needed to support Nigeria’s structural agenda and overall gain in competitiveness and economic diversification to stabilise forex and boost economic growth. Alex Sienaert, World Bank Lead…

Fuel Price: Reject World Bank N750/Litre Proposal, NLC Warns FG

Fuel Price: Reject World Bank N750/Litre Proposal, NLC Warns FG

The Nigeria Labour Congress (NLC) on Thursday cautioned the Federal Government against implementing the World Bank recommendation of increasing the pump price of Premium Motor Spirit (PMS), otherwise known as petrol or fuel to N750…

World Bank Proposes N750 Per Litre For Petrol Price In Nigeria

World Bank Proposes N750 Per Litre For Petrol Price In Nigeria

Seven months after the removal of fuel subsidy in Nigeria, the World Bank on Wednesday said the price of petrol should be around N750 per litre more than the N650 per litre currently being paid…

FG To Increase Minimum Wage By April 2024

FG To Increase Minimum Wage By April 2024

President Bola Ahmed Tinubu-led government has said that a new national minimum wage structure will take effect from April 1, 2024 upon expiration of the current N30,000 monthly pay on March 31. The Federal Government…

Nigeria Seeks $1.5bn Loan From World Bank

Nigeria Seeks $1.5bn Loan From World Bank

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has revealed that Nigeria is seeking  a $1.5 billion loan from the World Bank to support its budget, while the International Monetary Fund…

Poor Economic Growth In Nigeria To Affect Africa’s GDP, Job Creation – W’Bank

Poor Economic Growth In Nigeria To Affect Africa’s GDP, Job Creation – W’Bank

The World Bank on Wednesday predicted slow growth in the major African economies in 2023, New Telegraph reports. According to a dismal economic prognosis for Africa released by the World Bank, growth prospects in Sub-Saharan…

World Bank: Naira Weakened 40% Against Dollar Since June

World Bank: Naira Weakened 40% Against Dollar Since June

The Nigerian Naira has lost 40% of its value since its devaluation in mid-June 2023, making it one of the worst-performing currencies in Africa, according to the World Bank. This was contained in a statement…

How Tinubu Borrows Over N1.5trn From World Bank In 4 Months

How Tinubu Borrows Over N1.5trn From World Bank In 4 Months

Despite growing worries from Nigerians and international organisations about the country‘s mounting debt,  Nigeria has so far acquired a total of $1.95 billion in loans from the World Bank in the first four months of President Bola Tinubu’s administration. This followed the…