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Health-related expenses push over one million Nigerians into poverty every year, according to the World Bank’s Human Capital Public Expenditure and Institutional Review. The report provides an analysis of the financing and governance constraints affecting the delivery of basic education and primary health care in Nigeria. According to the report, Nigeria ranks poorly in Universal
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
Ghana to lose $3.8 billion World Bank funding if anti-LGBTQ+ bill is signed into law Ghana could lose $3.8 billion of World Bank funding if an anti-LGBTQ bill passed last week is signed into law, according to a Finance Ministry document seen by Reuters. BBC reports that the financial authorities in Ghana are suggesting that President
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
The World Bank Group discussed a new five-year Country Partnership Framework from 2021 to 2024 with Nigeria and approved a $1.5bn package to help build a resilient recovery post-COVID-19. The bank disclosed this in a statement entitled “World Bank Group to boost Nigeria’s efforts to reduce poverty,” on Tuesday. It stated that Nigeria was at