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WORLD BANK
A World Bank and UNICEF report has revealed that despite global progress in reducing extreme child poverty, Sub-Saharan Africa has recorded no improvement in the last decade, with over half of children in the region still living below the poverty line.
UAC of Nigeria Plc began its 2025 financial year on a mixed note, reporting a pre-tax profit of N11.1 billion for the first half ended June 2025, 25% lower than the N14.95 billion posted in the same period last year.
World Bank commits to 90,000 kilometers fiber optic project to drive broadband access across Nigeria
The World Bank Group has pledged deeper collaboration with the Federal Government of Nigeria, highlighting a forthcoming nationwide 90,000 kilometers fiber optic project for digital broadband access across the country.
A new report from the World Bank’s Global Findex 2025 reveals that 59% of adults in low- and middle-income economies, including Nigeria, borrowed money in 2024, either through formal, semi-formal, or informal channels to take care of their needs.
The World Bank has appointed Mathew Verghis as its new Country Director for Nigeria, effective July 1, 2025. He succeeds Ndiame Diop, who has taken on a new role within the institution.
The World Bank has approved an additional $65 million credit for Nigeria under the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, raising the total funding to $145 million.
The World Bank has raised alarm over the growing impact of conflict and instability on 39 developing economies, including Nigeria, warning that these states are being left behind on key development indicators, with extreme poverty, hunger, and unemployment rising at alarming rates.
The Federal Government has offered clarifications regarding President Bola Tinubu’s request to the National Assembly for approval of a new $21.5 billion external borrowing plan, part of the proposed 2025-2026 borrowing strategy.
Despite improvements in agricultural production, many African countries still struggle to meet their food needs, with the food-insecure population on the continent increasing by 60 percent over the past ten years, according to a new World Bank report.
The World Bank has faulted the Central Bank of Nigeria’s (CBN) Open Market Operations (OMO) policy, calling for adjustments to enhance its effectiveness.
The World Bank has cautioned that Nigeria’s current economic growth rate may be too slow to meet the federal government’s ambitious target of transforming the country into a $1 trillion economy by 2030.
The World Bank has said that Nigeria’s macroeconomic outlook is improving, following a series of fiscal and monetary reforms undertaken by the government.