The World Bank Group has unveiled a new strategy to expand access to finance for micro, small and medium enterprises (MSMEs) in developing countries. The group said that it would use digital technology and data-driven solutions to boost business growth and create jobs. Ajay Banga, President of the World Bank …
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The World Bank Group and the International Fund for Agricultural Development (IFAD) have signed a new co-financing agreement to scale up investments in rural economies, strengthen food systems and create jobs. The agreement was signed on Tuesday during the 2026 Annual Meetings of the International Monetary Fund and the World …
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President Bola Tinubu says the World Bank’s October 2026 Nigeria Development Update confirms his administration’s economic reforms are yielding results and strengthening the economy for sustained growth. This is contained in a statement by the presidential spokesperson, Mr Bayo Onanuga, on Sunday in Abuja. Tinubu welcomed the report, titled ‘Beyond …
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The World Bank says Nigeria’s 36 states recorded a 93 per cent increase in revenues between 2023 and 2025 but education received a declining share of the sector’s expenditure. The bank disclosed this in its latest Nigeria Development Update, which examined how increased public revenues have influenced spending priorities across …
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The International Institute of Tropical Agriculture (IITA) on Friday launched the Nigeria AgriConnect Compact, a World Bank-funded initiative aimed at transforming Nigeria into a leading regional food basket. Newsextra24 reports that the initiative focuses on boosting agricultural productivity, expanding processing, improving market access, and mobilising private-sector investment across key value …
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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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