In its latest Nigeria Development Update , launched in Abuja, the bank said that the nation had to make hard choices or face a worse economic downturn in the months and years ahead.
The bank also forecast growth to slow 2.9% in 2023, adding that Nigeria’s economy needs to grow faster to reduce poverty. This hinders the prospects of the vast majority of the country’s people, at least 80 million of whom live in extreme poverty, it said, noting that whether to continue down this path, or to instead chart a new course and rise to its tremendous potential, is Nigeria’s choice.that Nigeria’s economic growth has slowed on the back of declining oil output and moderating non-oil activity, adding that real gross domestic product rose by 3.
On Thursday, the nation’s statistics office announced that annual inflation climbed to 21.47% in November from October’s rate of 21.09%, accelerating for the 10th consecutive month.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Bank approves additional $18m to strengthen disease surveillance in West Africa | TheCableThe World Bank says it has approved an additional $18 million to support effective disease surveillance in West Africa.
Source: thecableng - 🏆 2. / 80 Read more »
Health Care: Kogi emerges best performing state in World Bank projectEleven states, including Kogi, Abia, Gombe, Kaduna, Kano, Kwara, Nasarawa, Niger, Oyo, Plateau, and Katsina were assessed. What is the yardstick of measuring performance? Are you guys joking 🧐🤣 or paid fake news For Damming their Covid shenanigans and moving on like nothing happened. Kogi won an award. Someone needs to call a bluff of all their lies. KudosToKogi
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Inflation Rises To 21.47% As World Bank Cuts Growth Forecast To 3.1%This is even as the World Bank cut Nigeria’s 2022 growth forecast to 3.1 per cent from a previous forecast of 3.8 per cent.
Source: LeadershipNGA - 🏆 4. / 77 Read more »
'Another 5m pushed into poverty' -- World Bank cuts Nigeria's 2022 growth forecast to 3.1%The World Bank says five million Nigerians have been pushed into poverty as a result of inflation in 2022. WorldBank …but the government has been lifting 90 million Nigerians out of poverty frequently nau 🤔 WorldBank Those that promised to uplift have now pushed down more another 5 million down. Thank you Buhari u really a champion of d people with Pastor you have all done ur best wickedness WorldBank But my question is why is it that it’s only this particular region they normally use as a symbol of poverty whenever it comes to poverty statistics in Nigeria?
Source: thecableng - 🏆 2. / 80 Read more »
EXCLUSIVE: Documents Expose How Kogi Governor, Yahaya Bello Returned To Nigerian Central Bank N20Billion Workers’ Salaries Earlier Diverted To Private Account | Sahara ReportersDocuments from the Central Bank of Nigeria have exposed how the Kogi State Government led by Governor Yahaya Bello returned N20 billion meant for workers’ salaries earlier diverted to a secret bank account. The CBN confirmed the receipt of the money in correspondence to the Economic and Financial Crimes Commission chairman, Abdulrasheed Bawa, and signed by the Director, Development Finance Department. “We refer to your letter dated November 5, 2021, and wish to confirm the details of the receipt of the amount as stated below: 'Bank: Sterling Bank Plc Award for the most Notorious Governor goes to This man has the audacity to even consider to run for Nigerian presidency. This is someone role model oo! Pride of APC campaign team.They are even hailing his rugged leadership style.
Source: SaharaReporters - 🏆 9. / 63 Read more »
Polaris Bank CEO urges auditors on techThe Managing Director/Chief Executive Officer, Polaris Bank Limited, Mr Adekunle Sonola, has said audit professionals must begin to build and acquire IT and digital skills to be relevant and add value in digital age.
Source: MobilePunch - 🏆 8. / 63 Read more »