Tags : World Bank

Nigeria’s Debt Service, Revenue May Hit 102%

The World Bank has said that Nigeria’s debt service to revenue ratio could stand at 102.3 percent by the end of 2022. The Washington-based bank said this in its latest Africa’s Pulse report, which is a biannual analysis of the near-term macroeconomic outlook for the region, published around the World Bank/IMF Spring and Annual meetings […]Read More

How Bad Is Nigeria’s Unemployment Rate In 2022?

At the beginning of the year, Statista released a report forecasting the unemployment rate in Nigeria for 2022. The report estimated the unemployment rate in the year at nearly 33%, a 0.5 increase from the previous year at 32.5%. This data has been recycled in other reports on unemployment in Nigeria even though the recent […]Read More

Nigeria Accumulates $1.3bn Debt In One Year

According to the World Bank Fiscal Year 2022 audited financial statements, Nigeria was rated fourth on the  International Development Association borrowers’ list with $13bn IDA debt stock as of June 30, 2022. The country moved up from fifth position on the list with $11.7bn IDA debt stock as of June 30, 2021. This implies that […]Read More

Nigerian With Bank Accounts Hit 45%

According to the World Bank, the number of Nigerians with accounts at regulated institutions increased by 16 percent to 45 percent in 2021. These institutions include such as a bank, credit union, microfinance institution, post office, or mobile money service provider. The global bank stated that global account ownership increased by 50 percent from 51 […]Read More

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Reviewing Nigeria’s 2021 GDP Growth (1)

The National Bureau of Statistics has reported that the country’s Gross Domestic Product increased by 4.03 percent in the third quarter of 2021. This is contained in its Gross Domestic Product Report Expenditure and Income Approach report for Q3, Q4 2021. According to the report, in the third quarter of… You must be registered to […]Read More

10 Countries Account For 75% Global Gas Flaring

The World Bank has said that ten countries, including Nigeria, account for 75 percent of global gas flaring. The other countries include Russia, Iraq, Iran, the United States, Venezuela, Algeria, Mexico, Libya, and China. This was disclosed in the 2022 Global Gas Flaring Tracker Report published on Thursday on the bank’s website. According to the […]Read More

Inflation Pushes 23 million Nigerians Into Food Crisis 

About 23 million Nigerians were pushed into a food crisis due to the impact of the COVID-19 pandemic-induced inflation in 2021. The World bank said this in its latest Commodity Markets Outlook report in reference to the Global Report on Food Crises. According to the Washington-based, rising food prices have heightened food insecurity in emerging […]Read More

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Comparing Q1 Inflation Rate Across Five Years

According to the latest figures from the National Bureau of Statistics, Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new figure was the highest the country has recorded since November 2021. In the first quarter of the year,  Nigeria’s inflation rate grew from 15.60 percent in… You must be registered to […]Read More

What Should Low-Income Countries Expect In 2022?

The World Bank in its latest Global Economic Prospects report (PDF) predicts a fall in global economic growth from 5.5 percent in 2021 to 4.1 percent in 2022. While the economic growth rates in advanced countries are said to be sufficient to restore output and investments with a downward trend of 5 percent last year […]Read More