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World Bank has warned Nigeria that it could cancel a $1.5 billion loan unless the country meets strict economic reform criteria, including fiscal transparency and VAT rate increases. Nigeria has taken initial steps like raising gasoline prices and launching cash transfer programs, but must fully comply with macroeconomic policies to secure the loan. The loan
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout. According to The Times, data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented last week in Abuja during the Nigeria Development Update, December 2023
Nigeria has maintained its fourth position on the World Bank’s top 10 International Development Association (IDA) borrowers’ list after moving up from fifth in the 2022 fiscal year. Even though Nigeria maintains the fourth position, it has accumulated about $1.3 billion in debt within one year. This was disclosed in the World Bank Fiscal Year
On Friday, the Debt Management Office (DMO) published its quarterly debt report, stating that Nigeria’s total public debt — federal and state governments — hit N49.85 trillion at the end of the first quarter (Q1) of 2023. The latest figure increased by N3.60 trillion from the sum of N46.25 trillion recorded at the end of
The Central Bank of Nigeria (CBN), as part of its policy measures to address rising youth unemployment and underemployment, introduces the Tertiary Institutions Entrepreneurship Scheme (TIES) to create a paradigm shift among undergraduates and graduates of Nigerian polytechnics and universities, from seeking white-collar jobs to entrepreneurship. The CBN Tertiary Institutions Entrepreneurship Scheme (TIES) aims to
Odion Ighalo looks set to leave Manchester United at the end of his loan spell this week, with parent club Shanghai Shenhua keen to have the striker back ahead of the start of the Chinese Super League season. Ighalo has been a hit at Old Trafford since signing a loan deal on the final day of the