Afreximbank Chief Urges South Economies To Work Together To Counter Trade Uncertainties

The economies of the South must work together in order to deal with the uncertainties resulting from the current global trade environment, Prof. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), said yesterday in Bali, Indonesia. Speaking during a Panel discussion on “The Growing Importance of South-South Cooperation Amid Trade Tensions and Global Financial […]

World Bank Cuts Nigeria, Others’ Growth Forecast To 2.7%

The World Bank has cut its economic growth forecast for Nigeria and other sub-Saharan Africa countries for this year to 2.7 per cent from an earlier forecast of 3.1 per cent. The bank said on Wednesday that the cut was mainly because of slower-than-expected growth in the continent’s bigger economies, according to Reuters. It said […]

Growth In Sub-Saharan Africa Slower Than Expected–World Bank

Sub-Saharan African economies are still recovering from the slowdown in 2015-16, but growth is slower than expected, according to the October 2018 issue of Africa’s Pulse, the bi-annual analysis of the state of African economies by the World Bank. The average growth rate in the region is estimated at 2.7 percent in 2018, which represents […]

World Bank Approves $20m To Support Nigeria’s BHCPF

As part of efforts to improve primary healthcare services across Nigeria, the Global Financing Facility of the World Bank Group has announced an investment of $20 million to support the recently approved Basic Healthcare Provisions Fund (BHCPF) by the federal government. The investment, according to the development partner, will compliment Nigeria’s one percent consolidated revenue […]


World Bank Approves $2.1B Loan For Seven Projects In Nigeria

The World Bank says it has approved a 2.1 billion dollar loan for seven projects to support Nigeria’s investment in nutrition, access to electricity, states’ fiscal transparency and polio eradication. It said this in a statement issued on Thursday in Washington D.C., adding that women’s economic empowerment, public finance and national statistics and reducing vulnerability to soil […]

World Bank To Support Nigeria’s Power Recovery With $2.6bn

The World Bank Group has expressed its willingness to assist the Federal Government’s Power Sector Recovery Programme with $2.6bn. According to the Federal Ministry of Power, Works and Housing, the financial intervention from the bank for the PSRP would help to fully fund historical and future deficits in the power sector. The PSRP is a […]


22% of Nigerians Suffer From Chronic Depression – World Bank

A new study by the World Bank has revealed that 22 per cent of Nigerians, on average, are chronically depressed. The study looked at the first nationally representative estimates of chronic depression in Nigeria to shed light on how it may be linked to economic outcomes, such as Labour market and human capital investments, especially […]


World Bank’s Support to Nigeria, Others Hits $14bn

The World Bank Group yesterday disclosed that its support to fragile states, including Nigeria through the International Development Association (IDA) has doubled to more than $14 billion. The  bank’s Country Director in Nigeria, Mr. Rachid Benmessaoud, who made the disclosure at a conference with the theme: ‘IdeasforAction Africa’ which it hosted in collaboration with the […]

World Bank logo

World Bank Forecasts 2.5 Percent Growth For Nigeria In 2018

The World Bank has forecast that economic growth in Nigeria would edge up to at least 2.5 per cent in 2018, as the country benefits from improved commodity prices, investments and trade. According to the World Bank’s January 2018 Global Economic Prospect report launched on Tuesday in Washington DC, Nigeria’s Gross Domestic Product (GDP) is […]

Edo Partners World Bank On Expenditure Framework, Inclusive Growth

The Edo State Government has revealed that it is partnering with the World Bank on its Medium-Term Expenditure Framework (MTEF) and Medium Term Sector Strategy (MTSS), for efficient allocation of resources and engender inclusive growth. Special Adviser to the Governor on Budget, Mr. Joseph Eboigbe, disclosed this in a chat with journalists in Benin City, […]