The Federal Government has reaffirmed its commitment to strengthening collaboration with the World Bank to improve access to safe water and enhance food security across the country. The Minister of Water Resources and Sanitation, Prof. Joseph Utsev, gave the assurance on Wednesday while receiving a World Bank delegation led by the …
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The Federal Government has cancelled $717.7 million in undisbursed World Bank intervention financing meant to support the recovery of Nigeria’s troubled electricity sector. The cancellation followed a formal request by the Federal Government and a joint decision by both parties to discontinue financing under the Power Sector Recovery Performance-Based Operation. According to …
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President Bola Tinubu’s government is reportedly negotiating a fresh $1.25 billion loan facility with the World Bank to support economic reforms, job creation, and investment growth. Truthng understands that details of the proposed facility were contained in a World Bank document titled “Nigeria Actions for Investment and Jobs Acceleration.” According to Channels Television, the …
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President Bola Tinubu has called on the World Bank, International Monetary Fund (IMF) and African Development Bank (AfDB) to scale up financing for climate action. Tinubu, represented by the Vice-President, Sen. Kashim Shettima, made the call at a Climate Submit during the 80th Session of the United Nations General Assembly …
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The World Bank has approved an additional $65 million credit for Nigeria under the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, raising the total funding to $145 million. According to information obtained from the website of the World Bank, the approval was granted on June 24, 2025—six days …
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Global economic growth is expected to decline in 2025 due to increased trade barriers and policy uncertainty, the World Bank has said. Growth is projected to weaken to 2.3 per cent, or nearly half a percentage point lower than expected at the start of the year, according to the Global …
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GLOBAL economic growth is projected to slow to 2.3 per cent in 2025 due to mounting trade tensions and persistent policy uncertainty, according to the World Bank’s latest Global Economic Prospects report. A statement from the bank’s Online Media Briefing Centre on Tuesday noted that the new forecast was nearly …
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WORLD Bank has called for more impact-driven partnerships to address the development challenges in Africa. This call is part of a broader push for more collaborative and outcome-focused development efforts, recognising that global challenges like climate change, health pandemics, and economic instability require a concerted effort from various stakeholders The …
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THE Minister of Water Resources and Sanitation, Prof. Joseph Utsev, has urged the World Bank to increase its support for Nigeria’s plans to upgrade existing dams and develop new irrigation systems. He said the enhanced support would help advance the Federal Government’s vision of achieving food security and boosting hydropower …
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THE World Bank has approved a $350 million grant for the Mpatamanga Hydropower Storage Project, a landmark initiative expected to double Malawi’s hydropower capacity and extend electricity access to over one million households. The financing was confirmed in a statement issued late Thursday by the Bank, which described the project as a …
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