The World Bank has released a report indicating that a vast majority of the intended recipients have not yet benefited from the Nigerian Federal Government’s recent initiative to provide a monthly cash handout of N25,000 to poor and vulnerable households.JAMB Portal This information, as reported by The Times, was disclosed by Alex Sienaert, the World … Read more
The World Bank President, Ajay Banga, will visit Nigeria this week as part of his mission to advance a global tour and improve the bank’s relationship with partners and countries of the world. THE WILLS reports. A statement by the bank said Mr. Banga will begin a three-day visit to Nigeria on 3 August. According … Read more
The World Bank has projected President Bola Tinubu’s government to save at least N2 trillion in 2023 and N11 trillion by 2025 from fuel subsidy removal. Peoples Gazette reports.Information Guide Nigeria “With the petrol subsidy removal, the government is projected to achieve fiscal savings of approximately N2 trillion in 2023, equivalent to 0.9% of GDP. … Read more
The Washington-based World Bank has appointed Ajay Banga as its new President. DAILY POST reports. The World Bank confirmed that Banga, who had a decade-long career in Mastercard, would take over from David Malpass as the next President.Information Guide Nigeria The development lender disclosed that Banga would pioneer the institution for five years. Other Top … Read more
More countries are increasingly reliant on migration to realize their long-term growth potential, according to a report from the World Bank on Tuesday. DAILY POST reports.Information Guide Nigeria The “World Development Report 2023: Migrants, Refugees, and Societies” said the trend presents an opportunity to make migration work better for economies and people. It found that … Read more
A World Bank report has revealed that the Nigerian Diaspora community remitted $168.33 billion to the country in the past eight years. VANGUARD reports.Information Guide Nigeria The remittance was made even as the foreign investments inflow into the country remained unstable during those years caused by a scarcity of foreign currency which has since led … Read more
World Bank has revealed that Nigeria spends 96.3 percent of government revenue on servicing debt in 2022. The global financial institutions stated this Macro Poverty Outlook for Nigeria: April 2023 brief released on Friday, April 13, 2023. According to the report, the fiscal deficit breached the stipulated limit for the federal fiscal deficit, Punch reports. … Read more
The intergovernmental group of twenty-four (G-24) on international monetary affairs and development has called for reforms in World Bank supports systems.Information Guide Nigeria They expressed their concerns over some of the measures undertaken by the World Bank Group, WBG, in addressing the post-COVID economic, financial and development challenges of the low and middle income countries … Read more
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said yesterday that the Federal Government has secured $800m from the International Bank for Reconstruction and Development (World Bank), to provide post-petroleum subsidy palliatives for over 50 million Nigerians, ahead of June 2023. The Minister disclosed this while briefing State House correspondents at the … Read more
The World Bank has stated its readiness to partner with the National Youth Service Corps, NYSC, on youth empowerment, job creation, and skills development for corps members. DAILY POST reports. The Lead Economist of the World Bank Youth Employment and Skills Development Team, Elena Glinskaya, revealed this during a courtesy visit to the NYSC National … Read more