Tag: World Bank
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World Bank Declines $717M Power Loan For Nigeria
By Paul Joseph The World Bank and the Federal Government of Nigeria has officially cancelled the remaining $717.7 million World Bank loan earmarked for the nation’s power sector, marking an early end to a major electricity recovery programme as the country struggles with deteriorating electricity supply and mounting financial pressures. According to documents released by…
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IMF Warns Nigeria’s Weak Budget Credibility Threatens Fiscal Stability
By George Omagbemi Sylvester The International Monetary Fund (IMF) has warned that weak budget credibility and poor implementation practices are undermining Nigeria’s fiscal stability, worsening revenue gaps, encouraging opaque spending, and weakening public trust in governance. The warning was highlighted on May 14, 2026, in a new IMF assessment examining budget execution across sub-Saharan Africa.…
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FG Seeks Fresh $1.25bn World Bank Loan Amid Rising Debt Concerns
By George Omagbemi Sylvester The Federal Government is seeking a fresh $1.25 billion loan from the World Bank to support economic reforms, job creation, digital expansion, electricity access, and agricultural development under President Bola Tinubu’s administration. The move became public on May 12, 2026, after reports showed that negotiations between Nigeria and the World Bank…
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Tinubu Hosts World Bank Leaders in Abuja
By Ashiru Taofeek Adewale President Bola Tinubu and Vice President Kashim Shettima met with a top team from the World Bank on earlier today. The meeting took place at the State House in Abuja. The World Bank group was led by Anna Bjerde, the organization’s Managing Director of Operations. The President’s adviser, Bayo Onanuga, shared…