Tag: WORLD BANK
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World Bank has emphasized that affordable and reliable electricity is crucial for Africa’s economic growth, job creation, and poverty reduction. Despite global progress over 150 years, about 600 million Africans lack access to power, with unreliable supply causing business disruptions and reducing employment by up to 14%. They explained Improved energy access can boost…
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World Bank has stated that Nigeria’s goal of achieving single-digit inflation in the short term is unrealistic, highlighting that Nigeria remains among a few African countries—alongside Angola, Ethiopia, Ghana, and others—still experiencing double-digit inflation through 2025. While most African nations are expected to reduce inflation to single digits by 2026, Nigeria’s ongoing structural challenges, such…
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World Bank has urged Nigeria to ensure that the benefits of recent macroeconomic reforms translate into real improvements in citizens’ living standards, as approximately 139 million Nigerians remain in poverty. Nigeria’s reforms, including removing petrol subsidies and unifying exchange rates, have stabilized the economy and improved revenues, foreign exchange markets, reserves, and inflation. However,…
