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 Read More
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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 Read More
The World Bank has projected that the number of poor people in Sub-Saharan African countries can hit 463.6 million in 2022. This, the apex bank said, is due to the COVID-19 pandemic and the ongoing war in Read More
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 Read More
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 Read More
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. Read More
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 Read More
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 Read More
According to a financial statement of the International Development Association, Nigeria is the fifth highest borrower from the World Bank Group and among the 10 highest debt risk exposure globally. The report is contained in the Read More
The World Bank says Nigeria’s revenue to gross domestic product ratio is the lowest in the world. The bank’s country director for Nigeria, Shubham Chaudhuri, said this during a panel session at Read More
