Nigeria slides in global ‘Ease Of Doing Business’ ranking

Nigeria dropped by a spot in the latest World Bank’s Ease of Doing Business ranking, sliding marginally to the 146th position from the 145th it ranked last year. The World Bank Group, in a report titled ‘Doing Business 2019: A Year of Record Reforms, Rising’, published Wednesday, stated that it tracked 314 reforms by 128 […]

World Bank cuts Africa’s growth projection to 2.7% in 2018

The World Bank has cut its growth forecast for sub-Saharan Africa in 2018 from 3.1 per cent to 2.7 per cent. This represents a slight increase from 2.3 per cent in 2017. The World Bank in its October edition of the African Pulse, which is a bi-annual analysis of the state of African economies, stated […]

World Bank, FG in $124m exploration deal for Nigeria’s industrial minerals

The World Bank has concluded a deal with the Federal Government to invest $123.5 million in the exploration of industrial minerals in Nigeria. Consultant to the deal, Vitor Carrieia, disclosed yesterday in Abuja while unveiling the Industrial Minerals Roadmap that the document has a five-year implementation period. He stated that there was no need for […]

What developing countries must do to improve citizens’ lives – World Bank

The President of the World Bank, Jim Kim, has called on world leaders from Africa and Asia to invest in human capital development as a means of improving the lives of younger generations. This, he said, would enable young people improve their survival skills. Kim made this submission in New York on Tuesday at the […]

Nigeria, World Bank to fast-track project implementation in S/West

The World Bank and the South West states of Ekiti, Lagos, Ogun, Ondo, Osun, and Oyo, have agreed to accelerate the implementation for World Bank assisted projects in the region. The agreement was at a meeting which had officials from the Federal Ministry of Finance, senior government officials of the region discussed ways to improve […]

FG seeks World Bank, Gates Foundation’s support on NHIS coverage

Nigeria’s Vice President, Prof. Yemi Osinbajo, has called on the World Bank and the Bill & Melinda Gates Foundation to assist the Federal Government in its health funding needs to provide better health insurance coverage for Nigerians. Osinbajo, who made the appeal at a forum in Minneapolis, the United States, stated that the solicitation for […]

World Bank, CBN mull review of Land Use Act to boost housing

  The World Bank and Central Bank of Nigeria (CBN) have unveiled plans to collaborate with a view to reviewing the nation’s Land Use Act and creating a more conducive environment for housing sector’s growth. Already, the Breton Woods institution has extended a $300 million lifeline credit to the country for the Nigerian Housing Finance […]

World Bank officials to meet VP, Adeosun, Govs, over projects in Nigeria

A World Bank Mission, comprising of 10 Executive Directors, is expected in Nigeria on tomorrow to hold high-level discussions with the Vice President, Prof. Yemi Osinbajo, SAN; Minister of Finance, Mrs Kemi Adeosun and some Governors over the Bank’s projects in the country. A statement issued by the Minister’s Special Adviser, Media and Communications, Oluyinka […]

IMF forecasts 2.1% growth for Nigeria, predicts oil prices slump

The International Monetary Fund (IMF) has projected that the Nigerian economy would grow from 0.8 percent in 2017 to 2.1 percent by the end 2018 and by 1.9 percent in 2019. Curiously, the Fund’s projection is coming just about two months after the World Bank predicted that Nigeria will record at least 2.5 percent economic […]

World Bank flags off ESF workshop on new projects in Nigeria

The World Bank today flagged off a workshop on its Environmental and Social Framework (ESF) in Abuja as part of efforts to create an understanding of the environmental and social criteria it would be applying to new projects it will be financing in Nigeria as from October this year. A statement issued by the bank’s […]