World Bank

Nigeria has emerged Africa’s largest economy for the fifth consecutive year after narrowly edging out Egypt to the second position by 0.2 percent. According to data by the World Bank, Nigeria has maintained the position of the largest economy on...

July 21, (THEWILL) - Nigeria has emerged Africa’s largest economy for the fifth consecutive year, according to data published by the World Bank. The West African country has maintained the position of the largest economy on the continent for the...

June 28, (THEWILL) - The World Bank has disclosed plans to commit additional 750 million dollars to deepen Nigerians' access to electricity through the Nigeria Electrification Project (NEP). Ms Elizabeth Huybens, the Bank’s Director of Strategy and Operations for...

June 28, (THEWILL) - The World Bank said the removal of petrol subsidy and unification of the Foreign Exchange (FX) rates by the administration of President Bola Tinubu, were crucial measures to rebuild fiscal space and restore macroeconomic stability...

June 27, (THEWILL) - The World Bank on Tuesday, said the $800 million loan to Nigeria was approved in December 2021. The bank’s Country Director in Nigeria, Dr Shubham Chaudhuri, who disclosed on Tuesday, said the loan was delayed,...

June 06, (THEWILL) – The World Bank has said that global economy is on a precarious footing as interest rates have assumed an upward trend. The Bank, therefore, predicts global growth to slow to 2.1 percent in 2023 from...

June 03, (THEWILL) - Ajay Banga has assumed duties in his five-year term as World Bank Group President effective June 2, 2023. A statement by the World Bank Group Saturday said Ajay Banga most recently served as Vice Chairman at...

May 14, (THEWILL) – Rights advocacy group, the Socio-Economic Rights and Accountability Project (SERAP), has urged the World Bank President, David Malpass, to use his “good offices to suspend any disbursement of the $800m loan to the Federal...

May 10, (THEWILL) - President Muhammadu Buhari is seeking the approval of the Senate, for a new loan request of $800 million. President Buhari conveyed his request in a letter read by Senate President, Ahmad Lawan, at plenary on Wednesday....

May 04, (THEWILL) – The Executive Directors of the World Bank have appointed Ajay Banga as President of the Bank for a five-year term beginning June 2, 2023. Banga, an Indian-American business leader, was elected unopposed to head the...