Tag: world bank

W’Bank Considers Nigerian States’ $1.5bn Loan Request Next Week

World Bank’s Country Director for Nigeria, Mr. Shubham Chaudhuri

Insists deepening reforms critical in mitigating COVID-19 crisis The World Bank will next Monday deliberate on a fresh loan request of a total of $1.5 billion by states in Nigeria.Read More

CBN Grants Unrestrained Access to Forex from Diaspora Remittances

Central Bank of Nigeria (CBN)

Clarifies eligible transactions in line with global best practices Anyone who receives foreign exchange through these remittances is free to use them as he deems fit without let or hindrance Read More

Senate: N3bn Needed To Resuscitate Ajaokuta Steel Rolling Mill

Ajaokuta Steel Company Ltd

The Senate at the weekend revealed that the total sum of N3 billion would be required to resuscitate the Ajaokuta steel rolling mill which has been under construction since 1980.Read More

Analysts Back FG’s Forecast Of Quick Exit From Recession

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed

World Bank predicts drop in nation’s per capita income to 40-year-low Analysts yesterday described the Federal Government’s projection that the economy, which slipped into a recession in the third quarter Read More

FIRS: Tax Now Accounts For 70% Of Nigeria’s Revenue

Federal Inland Revenue Service (FIRS)

Wants tax laws amended, as most date back to pre-independence period The Federal Inland Revenue Service (FIRS) has disclosed that receipts from tax, which were previously supplementary, now account for Read More

World Bank Projects $2bn Drop In Nigeria’s Diaspora Remittances

World Bank

The World Bank has predicted that inflow of Diaspora remittance to Nigeria will drop by $2 billion in 2020 to $21.7 billion as against the $23.8 billion the country recorded Read More

European Union Backs Okonjo-Iweala For WTO DG

European Union

The European Union (EU) governments yesterday expressed support for Dr. Ngozi Okonjo-Iweala, Nigeria’s candidate for the position of the Director-General (DG) of the World Trade Organisation (WTO) as the race Read More

World Bank To Start $750m Power Support Fund Disbursement In 2021

World Bank

World Bank has disclosed that it would begin the disbursement of the $750 million it approved for Nigeria’s Power Sector Recovery Programme (PSRP) next year and complete the process in Read More

Atiku Urges N’Assembly To Reject Fresh Loan Requests

Alhaji Atiku Abubakar

A former vice president, Alhaji Atiku Abubakar, has written to the President of the Senate, Dr. Ahmad Lawan, requesting the National Assembly to reject any new loan request meant for Read More

World Bank Approves $114.28m Financing To Help Nigeria Tackle COVID-19

COVID-19

Cases hit 45,687 with 32,637 discharged and 936 deaths The World Bank Board of Directors yesterday approved $114.28 million financing to help Nigeria prevent, detect and respond to the threat Read More