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The World Bank retracted $717.7 million intervention loan for development of Power in Nigeria.
The Bank noted that increasing Nigeria's foreign debt in the current reforms framework is unsustainable.
The perennial collapse of the National Grid and the rising cost of doing business have become discouraging to the Bank to release more intervention loans to the Nigerian government for the power sector.
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Reporting for Galaxy TV from Lagos and Abuja, covering energy and national affairs across Nigeria and West Africa
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Nigeria accounted for nearly 90 per cent of OPay’s revenue in the first half of 2026, as the fintech company prepares to raise up to $366m through a listing on the New York Stock Exchange.
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