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Electricity: 78% Nigerian Consumers Get Below 12-Hour Daily Supply
The World Bank has said a total of 74 percent of power users in Nigeria are dissatisfied with the supply of electricity across the country. The World Bank also stated that 93 percent of metered power users paid their bills regularly while 78 percent of electricity consumers in Nigeria received less than 12 hours of…
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World Bank Warns Against Hiking Of Global Tax Minimum
The World Bank has warned world leaders to avoid setting very high global minimum tax rates that hinder poor countries’ from attracting valuable investments. The cautioning comes after the US Treasury Secretary Janet Yellen called for a 21% global minimum rate. Ms Yellen has said a global minimum tax on companies is necessary to stop a…
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Banks’ Credit To Economy Hits N43.67tn
As at the end of February 2021, banks’ credit to the economy rose to N43.67 trillion from N42.92trillion in January – an addition of N75billion. The Central Bank Governor, Godwin Emefiele, who disclosed said, “Provisional data showed that banking system credit to the economy increased by 1.75 per cent to N43.67trillion in February 2021 from…
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Federal Govt Disburses N123,348 Billion World Bank Performance Grant to States
32 states out of the 36 states in Nigeria received N123.348 billion from the Federal Government based on their achievements under the performance-based grant component of the World Bank-assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) programme. This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed in a statement…
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Number Of Poor Nigerians May Hit 100 Million By 2022 – World Bank
The World Bank has forecasted the number of Nigerians living below the poverty level may hit 100 million by 2022, a 20 million increase of the current figure. Gloria Joseph-Raji, World Bank senior economist, made this known while speaking on Tuesday at the launch of a 2021 macroeconomic outlook report by the Nigeria Economic Summit…
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World Bank: 85 Million Nigerians Living In Darkness
The World Bank has said that 43 percent of Nigeria’s population do not have access to electricity, making it the largest energy access deficit country globally. The bank noted that the lack of power is a constraint for citizens and their businesses, adding Nigeria’s economic cost of power shortages is estimated at $26.2 billion. This…