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The Federal Government has lost access to $717.7m in undisbursed World Bank financing originally earmarked to rescue Nigeria’s troubled electricity sector, following a joint decision by both parties to terminate the Power Sector Recovery Performance Based Operation. According to restructuring documents obtained from the World Bank, the cancellation was triggered by a formal request…
Nigeria maintained its position as the third-largest global borrower from the World Bank’s International Development Association despite a marginal reduction in its debt stock. The nation’s outstanding exposure to the concessional lending arm stood at $18.5 billion as of March 31, 2026. This figure marks a slight 1.7 percent drop from the $18.7 billion recorded…
The Federal Government is in advanced discussions with the World Bank over a proposed $1.25 billion loan facility aimed at accelerating economic reforms, expanding job opportunities, and strengthening business competitiveness across the country. According to documents obtained by Channels Television, the proposed facility is tied to a programme titled Nigeria Actions for Investment and Jobs…
Assad Hassan, the national coordinator for the World Bank-backed HOPE Governance Programme, has issued a sharp rebuke to Nigerian state governments regarding the use of concessional loans. He warns that states must build robust institutions rather than view international funding as a temporary windfall. Reform cycles often stall once external capital dries up. Nigeria now…
Nigeria’s headline inflation rate rose to 15.38 per cent in March 2026, snapping a year-long easing trend and signalling renewed pressure on household budgets across the country. The National Bureau of Statistics disclosed the figures in its Consumer Price Index report released on Wednesday. The increase marks the first time the headline inflation rate…
Nigeria’s gross revenue reached a cumulative N84tn over the last three years, yet 41.1% of these earnings never reached the federation’s distribution pool. Findings from the World Bank’s latest Nigeria Development Update reveal that “pre-distribution deductions” are quietly hollowing out the treasury. While total earnings climbed to N37.44tn in 2025, the amount siphoned off for…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, has warned against any return to generalized subsidy regimes, cautioning that hard-won economic gains must not be reversed despite mounting global shocks and geopolitical tensions. Speaking in Washington D.C. on Tuesday in his capacity as Chair of the G-24 Group of…
The World Bank has reported that poverty in Nigeria climbed to 63 percent in 2025, affecting an estimated 140 million people, even as headline inflation declined sharply from 34.80 percent in December 2024 to 15.15 percent in December 2025. The report shows poverty rising steadily from 56 percent in 2023 to 61 percent in…
A joint working paper by the International Labour Organisation (ILO) and the World Bank has cautioned that generative artificial intelligence (GenAI) will fundamentally alter labour markets across the world, with the most vulnerable economies standing to lose the most if deliberate policy action is not taken. The study, prepared as a background paper for…
The World Bank has projected that Nigeria and other developing economies may face a jobs deficit of approximately 800 million positions over the next decade and a half, as rapidly expanding youth populations outpace the creation of formal employment opportunities in a trend the institution describes as a looming national security threat. In an analysis…
