world bank

Image Credit: Michael Odida The Digest: The World Bank has reported that approximately 139 million Nigerians continue to live in poverty, despite acknowledging that the country's economic reforms are beginning to yield stability. This stark reality highlights a critical gap between...

The Digest: Human rights lawyer Femi Falana SAN has asserted that the removal of Nigeria’s petrol subsidy was not an autonomous policy decision but a directive from international financial institutions. Speaking on Channels Television, Falana argued that no country globally operates without...

The Digest: The World Bank has approved $300 million to support internally displaced persons (IDPs) and their host communities in northern Nigeria. This project, known as SOLID, aims to foster self-reliance and economic opportunities amidst ongoing regional conflict. Key Points: World Bank...

The Digest: New "Development Leadership" arrives for Nigeria. The World Bank has officially appointed Mathew Verghis as its new country director for Nigeria, effective July 1. Verghis, an Indian national, will lead the bank's engagement in the nation's critical development journey Key Points...

According to the World Bank’s 2025 Energy Progress Report, Nigeria has the largest number of people without electricity access globally, with an estimated 86.8 million people lacking power in 2023. This is the third consecutive year Nigeria has held this position. The report highlights a...

The World Bank has raised a significant alarm, listing Nigeria among 39 economies globally where conflict and instability are intensifying poverty and hunger. The comprehensive report assesses the plight of these nations in the post-COVID-19 era, highlighting how they are falling behind on key...

More than half of Nigerians live on less than ₦50,000 a month, barely covering a week’s groceries in many cities. According to World Bank and Premium Times reports, this stark reality reflects deepening poverty, worsened by inflation, stagnant wages, and shrinking economic opportunities. In many...

The federal government is set to forfeit $10 million from a World Bank loan due to subpar audits, delayed systems, and unfulfilled project milestones. Despite some gains in revenue performance and data transparency, Nigeria’s fiscal reform efforts under the FGIP project fall short as the June 30...