…20-fold to almost $6 billion in 2026 from about $300 million in 2023, President of the World Bank Group, Mr. Ajay Banga, has said, just as the Federal Government (FG) said it has intensified efforts to translate economic reforms into faster growth, job creation and improved living standards. Banga spoke on Monday durin…

…to have given a hint to that during the launch of the October 2026 edition of the World Bank’s Nigeria Development update. But we are aware that implementation of the 2026 budget, particularly with respect to capital expenditure, has not started. Actually, the National Assembly recently approved the extension of the im…

…platform that I was reliably informed by an MD of a Federal Government agency that the World Bank had approved the road project and that it was facilitated by James Faleke, with the state government expected to provide counterpart funding. That was the information I shared. Why did that post become a police matter? Aft…

…poverty rate of 63 per cent in 2025. It attributed the poverty estimate to an April 2026 World Bank report.Nigeria's gross domestic product growth increased from 3.3 per cent in 2023 to 4.1 per cent in 2024 before easing to four per cent in 2025, the department said. It also cited Central Bank of Nigeria figures showin…

…imports due to increased domestic refining are expected to support the currency. The World Bank also identified the naira as one of Africa’s more resilient currencies in Q2 2026, while Nigeria’s net foreign reserves reached $46 billionPAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear highe…

The World Bank says Nigeria’s 36 states recorded a 93 per cent increase in revenues between 2023 and 2025 but education received a declining share of the sector’s expenditure. The bank disclosed this in its latest Nigeria Development Update, which examined how increased public revenues have influenced spending prioriti…

…by 4.3 percent in 3026 and rise to an average 4.4% from 2027 to 2028, according to the World Bank, in its latest edition of Nigeria Development Update (NDU). This was contained in the latest edition of the NDU, released in Abuja, yesterday, with the bank assuring that if the government sustained it reforms, poverty and…

…financing had already been secured for the initiative, comprising $500 million from the World Bank, $100 million from the European Bank for Reconstruction and Development and $200 million from the African Development Bank, in addition to a €22 million grant from the European Union.” Yilwatda said the physical deploymen…

…financing had already been secured for the initiative, comprising $500 million from the World Bank, $100 million from the European Bank for Reconstruction and Development and $200 million from the African Development Bank, in addition to a €22 million grant from the European Union.” Yilwatda said the physical deploymen…

…adopt AI, power constraints threaten gains By Babajide Komolafe, Economy Editor The World Bank has warned that elevated fuel prices could slow Nigeria’s poverty reduction efforts despite an expected improvement in economic growth and a sharp decline in inflation in 2026. The warning was contained in its latest Africa E…

…Katsina State Government for advancing the programme and acknowledged the support of the World Bank, while urging implementing agencies to sustain monitoring beyond the disbursement ceremony. Earlier, Katsina State Governor, Dikko Radda, said the state government had committed more than N4bn to the Nigeria for Women Pr…

…country in Africa’s Great Lakes region, is the world’s poorest country, according to the World Bank ranking from 2024, and suffers recurring fuel shortages. Mutoni said “meticulous preparations” were underway to take in the deportees and no date had been set to put the deal into effect. “We need to arrange a place to a…

…Nigerians but said there were signs of macroeconomic stabilisation. According to him, World Bank figures showed that Nigeria’s real Gross Domestic Product grew by 4.2 per cent in the first half of 2026, while gross foreign reserves stood at $51.9 billion at the end of July. He also pointed to developments in the energy…

…to rebuild stability and we have started enjoying the results,” he said. Citing the World Bank, Akume said Nigeria’s real Gross Domestic Product (GDP) grew by 4.2 per cent in the first half of 2026, up from 3.9 per cent a year earlier. “The task before us now is to ensure that growth translates into jobs and higher inc…

…it is not an official classification used by major international organisations. The World Bank, for example, classifies economies as low, lower-middle, upper-middle and high income, while the International Monetary Fund uses categories including “advanced economies”.In this article, the term refers broadly to advanced,…

…debt climbed from $43.16bn in June 2023 to $54.52bn by June 2026, a rise of about 26%The World Bank Group held the largest share of Nigeria's multilateral debt at $20.73bn as of June 2026The Debt Management Office confirmed total public debt reached N166.79 trillion at the end of June 2026PAY ATTENTION: Mark Legit.ng a…

…to N166.79 trillion amid the country’s plan to secure a fresh $1.5 billion loan from the World Bank. DAILY POST reports that data released by Nigeria’s Debt Management Office, DMO, showed that the country’s debt profile had grown to N166.79 trillion as of June 2026. The new debt figures released by the DMO indicated th…

…exceeded 100% at some points later in the year. ‘‘Just to put that into perspective, the World Bank estimated that the implicit subsidy created by this exchange rate setup cost us about 3% of our GDP in 2022. “The pressure extended to our external reserves. The gross figure did not tell the whole story. After accountin…

The Allied Peoples Movement, APM, has told the World Bank and other international lenders to stop giving President Bola Tinubu fresh loans, stressing that such borrowing would mortgage the future of Nigerians. The party made this call in a statement by its National Publicity Secretary, Abubakar Yusuf, on Tuesday. It st…

…from Nigerian Newspapers: 1. The Federal Government has opened discussions with the World Bank for three new loans totalling $1.5bn, even as Nigeria’s public debt climbed to a record N166.79tn at the end of June 2026. Documents obtained from the World Bank show that the proposed financing comprises three separate $500m…

The Federal Government has opened discussions with the World Bank for three new loans totalling $1.5bn, even as Nigeria’s public debt climbed to a record N166.79tn at the end of June 2026. Documents obtained from the World Bank show that the proposed financing comprises three separate $500m facilities for climate resil…

…development partnerships. The record includes engagement with organisations such as the World Bank, UNDP, DFID and the European Union, alongside diplomatic engagement with foreign governments. His manifesto also says he was recognised by the Millennium Development Goals Office and UNDP for the implementation of develop…

…Single Point Moorings (SPMs) and incorporates advanced processing technology that meets World Bank, United States Environmental Protection Agency (EPA), European emission standards, and Nigerian regulatory requirements. “Its integrated port infrastructure includes multiple quays capable of handling Panamax vessels, liq…

The World Bank Group has said it will support reforms to Nigeria’s electricity tariff and subsidy frameworks as part of efforts to restore financial sustainability in the power sector. The World Bank disclosed this in its Country Partnership Framework for the Federal Republic of Nigeria for the period FY26-FY32. Accord…

…Board last week conducted a three-day strategic planning workshop with support from the World Bank-backed IMPACT Project and the participation of chairmen of Local Government Areas and Local Council Development Areas. The proposed plan is expected to establish a baseline for primary healthcare services across Lagos, id…