“The World Bank is not the most popular organisation in Nigeria right now,” the beginning of the opening remarks of the World Bank Country Director for Nigeria, Ndiame Diop, at the unveiling of the Nigeria Development Update Report, recently, aptly captured the perceptions of Nigerians towards the Bretton Wood institution.

Despite significant investments, including the World Bank’s recent power infrastructure financing, the country is struggling to achieve a stable electricity supply, a challenge that has far-reaching effects on Band A customer

Kwara State Governor AbdulRahman AbdulRazaq has inaugurated the construction, rehabilitation, and upgrade of rural roads totalling 209.77km, as part of his administration’s commitment to enhancing infrastructure and improving food security in the state. The projects, launched on Monday, are designed to connect the state’s agricultural hinterlands to urban markets, thereby promoting rural development and economic…

Overshadowed by international crises, the International Monetatry Fund (IMF) and the World Bank annual meeting is due to start on Monday in the U.S. capital, Washington. The meeting is to bring together finance ministers, representatives from the financial sector and development cooperation, as well as central bankers. The discussions, set to run until Sunday, are…

Between 2015 and 2022, Nigeria witnessed a reversal of economic gains, as recorded by Presidents Olusegun Obasanjo, Umaru Yar’Adua, and Goodluck Jonathan between 1999 and mid-2015.

The pan-Yoruba socio-cultural and political organization, Afenifere, on Saturday, urged the federal government to be cautious of recent advice from the World Bank (WB), which suggested reducing support for social services in Nigeria. The group noted that countries that adopted prescriptions from the World Bank and the International Monetary Fund (IMF) often ended up in…

Reforms undertaken by Nigeria's government are "essential" but have piled pressure on its people, more than half of whom live in poverty, the World Bank has said. Since coming to power in May 2023, President Bola Ahmed Tinubu has introduced reforms aimed at reviving the economy of Africa's most populous nation. Measures include the liberalisation…

The share of Nigerians living below the national poverty line has risen from 40.1 per cent in 2018 to 56 per cent as of this year, the World Bank has said.

As Nigeria embarks on a pivotal journey towards sustainable economic growth and development, the recent removal of fuel subsidies has sparked intense debate and scrutiny.

Low and medium countries across the world, which are battling extreme poverty including Nigeria, may need upward of 100 years to end the scourge, the World Bank has suggested.

The World Bank has reaffirmed its support for Nigeria's COVID-19 recovery efforts with a $500,000 investment in the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) programme.

According to the World Bank, Credit Infrastructure, which is the first key pillar, refers to the sets of laws, institutions, and mechanisms that enable the efficient and secure extension of credit in an economy.