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Nigeria Owes World Bank Group $7.8 bn

A new report has shown that Nigeria owes 51 per cent of its cumulative $15.35 per cent external debt to the World Bank Group. A report by FBN Capital research titled: ‘External Debt Ratios to Savour’ said the Federal Government of Nigeria’s (FGN’s) external debt obligations at end-September amounted to $15.35 billion, equivalent of 3.9 […]

Osinbajo Satisfied As World Bank Commends Nigeria’s Economic Reforms

Nigeria’s recent ranking by World Bank, evidence of productive collaboration anchored by FG’s ease of doing business initiative Remarks by the Vice President, Federal Republic of Nigeria, His Excellency, Prof. Yemi Osinbajo SAN at the Ease of Doing Business Stakeholders’ Engagement Forum at the Nigerian Export Promotion Council (NEPC) Hall, Abuja on November 7, 2017: […]

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World Bank Warns Nigerians Against Fraudulent Cooperative Scheme

The World Bank has issued a fraud alert warning Nigerians against a ‘cooperative’ scheme being promoted in the name of the global financial institution. In a statement made available to our correspondent by the Bank’s spokesperson, Olufunke Olufon, on Monday, the Bank said it had no hand in the “fraudulent scheme.” It said, “The World […]

Participants at the event

World Bank Introduces Grant For Grass Roots Business

The World Bank has taken a bold step in promoting the Nigerian economy through the banking sector as it seeks to empower grass-root businesses through model microfinance banking system. The project which is called “bottom-up” Project will involve the release of over 10 billion Commonwealth naira grants to start up each model microfinance banks that […]

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AfDB calls off proposed $400m loan to Nigeria

The African Development Bank (AfDB) has called off a loan to Nigeria that would have helped fund the country’s budget. It has instead redirected the money to specific projects, a vice president at the lender said yesterday, according to Reuters. The AfDB  had been in talks with Nigeria for around a year to release the second, […]

3rd left, Bishop Gideon Nkanta flanked by Kingdom wealth multipurpose cooperative society directors& coordinators at 2 days training program on microfinance bank management for chairmen & workers recently in Lagos.

World Bank Introduces Grant For Grass Roots Business

World Bank has taken a bold step in promoting the Nigerian economy through the banking sector as it seeks to empower grass-roots businesses through model microfinance banking system. The project which is called “bottom-up” Project will involve the release of over 10 billion Commonwealth naira grants to start up each model microfinance banks that will […]

World Bank Supports’ Nigeria Borrowing Plan

The World Bank says it is not in disagreement with the Federal Government on the need to borrow to finance infrastructure. In a letter to the Minister of Finance, Mrs. Kemi Adeosun, in Abuja on Wednesday, the World Bank Country Director for Nigeria, Mr. Rachid Benmessaoud, said the bank had commended the Federal Government for […]

UN, World Bank to boost climate finance

The United Nations Secretary General, António Guterres and World Bank Group President Jim Yong Kim have unveiled plans to accelerate the flow of finance for climate action, through a new platform dedicated to identifying and facilitating transformational investments in developing countries. Following meetings with world and business leaders, state and city representatives, and civil society, […]

Nigeria moves to end malnutrition through food fortification

Nigeria has moved closer to ending the chronic issues of malnutrition especially in children as the Minister of Trade and Investment, Okechukwu Enelamah launched the Strengthening African Processors of Fortified Foods project in Lagos. The $10m four-year project is sponsored by the Bill & Melinda Gates Foundation (BMGF) and is designed to support local food […]

We’ll invest more in Nigeria’s education- World Bank

The World Bank says the educational system in Nigeria faces a huge challenge and has pledged to invest more in the nation’s education with a view to improving its quality. The Senior Director of Education at World Bank, Dr Jaime Saavedra, said this on Thursday while questions from journalists shortly after the inspection and assessment […]