Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » World Bank approves $750mn credit to boost Nigerian reforms

    World Bank approves $750mn credit to boost Nigerian reforms

    October 2, 2022
    Share
    Facebook Twitter LinkedIn WhatsApp

    Abuja — The World Bank said it has approved a $750 million credit line for Nigeria to help the country’s 36 states push through reforms to attract investment and create jobs.

    Several states in Nigeria struggle to pay salaries due to low revenues and resort to borrowing from the domestic bond market and banks to fund infrastructure projects.

    *World Bank Group

    The World Bank said Nigeria had made progress in improving the ease of doing business but the country’s ability to attract domestic and foreign investment remained low compared with others.

    “Private sector investments remain the major vehicle to create more jobs, increase revenues to the states and improve social and economic outcomes for citizens,” the World Bank’s country director for Nigeria, Shubham Chaudhuri, said in a statement late on Thursday.

    The $750 million credit would improve land administration, telecommunications infrastructure, public-private partnerships, investment promotion and the business regulatory environment, the World Bank said.

    *Camillus Eboh; Editing: Andrew Heavens – Reuters

    Follow us on twitter

    Related News

    FG strengthens partnership with Impact Investors to drive Nigeria’s economic transformation

    Nigeria’s export earnings hit N20.6trn in Q1 2025, outpacing imports

    Kenya central bank lowers 2026 growth forecast to 5.4%

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    NSC seeks closer collaboration with Police to boost Port enforcement

    June 12, 2025

    Senate Committee commends NCDMB, pledges support to drive the local content development

    June 12, 2025

    Tinubu pardons Ken Saro-Wiwa, confers national honours on Ogoni Nine

    June 12, 2025

    Ensure NDDC 2025 budget reflects economic realities – Stakeholders

    June 12, 2025

    Nigeria reaffirms partnership with ILO on promoting social justice & decent work

    June 12, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.