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WORLD BANK
The World Bank says foreign exchange issues are diverting remittance inflow to the Sub-Sahara region from official to unofficial channels.
The World Bank has increased its disbursement to Nigeria from about $300 million to $315 million, out of the $800 million approved for the National Social Safety-Net Program Scale Up (NSSP-SU).
On Thursday, December 14, the World Bank approved the $750 million Distributed Access through Renewable Energy Scale-up (DARES) project in Nigeria.
The World Bank has launched a youth innovation challenge/accelerator program for youths focused on water solutions for a changing climate.
A new report by the World Bank reveals that Nigeria and 121 other developing countries spent around $443.5 billion in servicing public external debt in 2022.
The World Bank has disclosed that Nigeria was the top recipient of its fresh loans in 2022, with about $2.9 billion released to the country.
The World Bank has said that by 2025, Nigeria should have over N11 trillion saved from fuel subsidy removal.
The World Bank has asked the federal government to increase the VAT rate as a measure to boost non-oil revenue into the FG’s coffers.
The World Bank says FG may still be paying for fuel subsidies, as fuel prices in the country are currently not cost-reflective.
The World Bank has said that the removal of import restrictions in Nigeria will lift about 1.3 million people out of poverty.
The World Bank has announced that it has concluded plans to allocate $5 billion to bring electricity to 100 million people in Africa by the end of the decade (2030).
A new report by the World Bank puts the cost of crime on South Africa’s economy at around 10% of the country’s GDP yearly.