Tags : World Bank

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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

World Bank Forecasts Growth In Nigeria’s Economy

With a slight increase from the 2021 forecast, the World Bank has projected a 2.5 percent economic growth for Nigeria in 2022, and 2.8 per cent in 2023. In 2021, the  bank estimated 2.4 per cent in economic growth. In its latest Global Economic Prospects report released by the bank, higher oil prices and activities […]Read More

Nigeria’s diaspora Remittances Rise To $14.2bn

Nigeria’s diaspora remittances inflow  rose to $14.2 billion in the nine months ending September 2021. This is up 10 per cent Year-on-Year, YoY, from $12.9 billion in the corresponding period of 2020, despite the impact of COVID economy. This is contained in a data from the Central Bank of Nigeria, CBN, which also shows that […]Read More

Nigeria’s Economy To Grow By 2.4% In 2021

Projections by the World Bank has revealed that Nigeria’s economy would grow by 2.4 percent in 2021; an increase in the bank’s earlier growth projection of 1.8 per cent made in January this year. The bank made this disclosure in the new edition of its Africa’s Pulse report titled ‘Climate change adaptation and economic transformation […]Read More

20 Countries Benefited $2.69bn Guarantees From World Bank

The World Bank has disclosed that Nigeria and 19 other countries benefited from about $2.69bn guarantees between 2020 and 2021. The apex bank said that the guarantees were issued under the COVID-19 Fast Track Facility. The other countries are Albania, Argentina, Belarus, Bosnia & Herzegovina, Botswana, Chile, Eswatini, Georgia, Ghana, Kosovo, Lesotho, Moldova, Montenegro, Mozambique, […]Read More