Business
World Bank says Luanda may overtake Lagos by 2050
LAGOS, Nigeria — Lagos could lose its position as Sub-Saharan Africa’s most populous city to Angola’s capital, Luanda, by 2050, according to a World Bank report, as Luanda’s…
World Bank
News
World Bank Loan to Nigeria: $500M Comes With Reform Conditions
ABUJA, Nigeria — The World Bank has set conditions for Nigeria to access a $500 million loan under the Nigeria Actions for Investment and Jobs Acceleration (NAIJA) Development…
Business
Nigeria Portfolio Investment Hits $6.51bn, Up 26.5% in Q2
ABUJA, Nigeria — Nigeria portfolio investment reached $6.51 billion in the second quarter of 2026, about 26.5% higher than the $5.15 billion recorded in the second quarter of…
Business
Nigeria Cash Transfers Reach 10.46m Households, World Bank Says
ABUJA, Nigeria — The Federal Government had disbursed ₦658.9 billion in direct Nigeria cash transfers to 10.46 million poor and vulnerable households by September 2026, according to the…
Business
Nigeria Rising: Oyedele Cites Two-Year Tax Overhaul as Proof
BANGKOK, Thailand — Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, says Nigeria is beginning to change how it is perceived internationally, citing its tax…
World News
World Bank lines up $5.79 billion private investment to create 850,000 jobs in Nigeria
The World Bank Group is targeting up to $5.79 billion in private sector financing for Nigeria, with a major initiative expected to support approximately 850,000 direct and indirect…
Business
Nigeria’s external debt rises $11.4 billion under Tinubu to $54.5 billion
Nigeria’s external debt has risen by $11.4 billion in the last three years under President Bola Ahmed Tinubu, highlighting the increase in borrowing that has accompanied his administration’s…
News
FG seeks $1.5 billion in fresh World Bank loans
The Federal Government is seeking $1.5 billion in fresh financing from the World Bank through three proposed loans targeted at social protection, early childhood development and climate resilience.…
News
Nigeria’s Problem Is Low Revenue, Not Debt – World Bank
The World Bank said Nigeria’s biggest economic challenge is not the size of its debt but the country’s low level of government revenue. Speaking during an interview on…
News
Tinubu Cancels $717.7m World Bank Power Loan To Boost Nigeria’s Electricity
The Federal Government under President Bola Tinubu has cancelled $717.7 million in undisbursed World Bank loan meant to support reforms in Nigeria’s power sector. The decision came after…
News
Nigeria Remains World Bank’s Third-Largest Borrower With $18.5 Billion
Nigeria has maintained its spot as the third-largest borrower from the International Development Association (IDA), the concessional lending arm of the World Bank. Figures from the IDA’s March…
News
Tinubu’s Government In Talks With World Bank For Fresh $1.25bn Loan
The President Bola Tinubu government is currently discussing a fresh $1.25 billion loan with the World Bank, according to a document seen by Channels Television. The document, titled…
Metro
Police Arrest Man Who Posed As World Bank Official To Defraud Victims
The Nigeria Police Force (NPF) has arrested a man, Agbor Martins Black-Diamond, for allegedly impersonating a World Bank official to scam victims of large sums of money. Police…
News
World Bank Approves $12 Million Loan For Nigerian States Hosting IDP Camps
The World Bank has set aside up to $12 million in loans for Nigerian states that host camps or communities of internally displaced persons (IDPs). The loan was…
News
World Bank Says More Nigerians Will Sink Into Poverty By 2027
The World Bank has warned that poverty in Nigeria is likely to worsen by 2027, even though the country is rich in natural resources. This warning was part…
News
World Bank Approves New $1.57bn Loan For Nigeria
World Bank has approved three new loans for Nigeria, totaling $1.57 billion, aimed at boosting healthcare, education, and resilience to climate challenges. The World Bank approved this funding…