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FG Borrowings From CBN Hit N19trn
Inflation may worsen, experts react W’Bank predicts more hardship for Nigerians Cyril Ogar Federal Government’s total borrowings from the Central Bank of Nigeria, CBN, through ‘Ways and Means Advances’ rose from N17.46tn as of December 2021 to N19.01trn as of April 2022.
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Concerns As World Bank Predicts Extreme Poverty
World Bank has predicted that more people in Nigeria and its Sub-Saharan neighbours would soon dip into extreme poverty. According to a report obtained via a World Bank newsletter recently, titled, “Global Economic Prospects”, Russia – Ukraine face-off and its
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Appraising Impacts Of CAC’s Reforms On Nation’s Economy
Ladi Patrick-Okwoli Arguably, When President Muhammadu Buhari unveiled the National Digital Economy Policy, initiated by the Federal Ministry of Communications and Digital Economy, it was to ensure that Nigeria stays in tune with global trends and reality. The World Economic
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NSSEC Seeks World Bank Intervention On Teachers’ Training
Chika Mefor-Nwachukwu The Executive Secretary of National Senior Secondary Education Commission (NSSEC), Dr. Benjamin Abakpa has called for collaboration with World Bank in the area of training for senior secondary school teachers in the country. The Executive Secretary who stated
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Dollar Shortage, Subsidy, Deficit Financing Threaten Nigeria’s Growth – W/Bank
BY CYRIL OGAR World Bank has said that economic growth in Nigeria is being threatened by certain macroeconomic challenges, including dollar shortage, petrol subsidy and the fiscal deficit financing by the Central Bank of Nigeria. The bank disclosed this in
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Why World Bank Blacklists Four Nigerian Firms
Alyiu Galadima The World Bank has suspended at least not less than four Nigerian firms for engaging in procurement frauds. One of the firms is Sargittarius Nigeria Limited, located at 22B Adebayo Doherty Road, Lekki Phase 1 Lagos. The second
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Nigeria’s Revenue-To-GDP Ratio Lowest, Private Sector Choking – W/Bank
Nigeria’s revenue-to-Gross Domestic Product ratio, which fell to between five and six per cent last year, is the lowest in the world, the World Bank said. The Country Director for Nigeria, World Bank, Dr Shubham Chaudhuri, said this during a
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Electricity Subsidy To Hit N3trn By 2023 – World Bank
cyril ogar The World Bank has said that the inability Nigeria’s Electricity Supply Industry (NESI), to allow cost-reflective model, the tariff shortfall may rise to N3 trillion by 2023. Muhammad Abba Wakil, Senior Energy Specialist, with the bank in his
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FG, World Bank Begin Process To Rebase Nigeria’s GDP
Mariam Sanni, Abuja The Federal Government in collaboration with the World Bank has commenced the process to rebase Nigeria’s Gross Domestic Product. Experts describe GDP as the final value of the goods and services that are produced within a nation’s
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92m People Benefit From Economic Inclusion Programmes – World Bank
Mariam Sanni, Abuja The World Bank says economic inclusion programmes are on the rise in 75 countries, reaching approximately 20 million poor and vulnerable households and benefitting nearly 92 million individuals. The bank said this in a statement on Tuesday
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