| Financier | Commitments |
|---|---|
| Borrower/Recipient | 423.50 |
| International Bank for Reconstruction and Development | 750.00 |
NG Accelerating Resource Mobilization Reforms PforR
Abstract*
The program development objectives are to raise non oil revenues and safeguard oil and gas revenues. The program will also safeguard oil and gas revenues by enhancing transparency of oil and gas revenue reporting to the Federal Account Allocation Committee. Show More
Development Objective
The Program Development Objective (PDO) is to raise non oil revenues and safeguard oil and gas revenues.
Key Details
Project Details
P177308
Active
Moses Kajubi , Samer Matta
Federal Republic of Nigeria
October 19, 2021
(as of board presentation)
June 13, 2024
October 14, 2024
US$ 1853.50 million
Federal Ministry of Finance
2024
US$ 750.00 million
N/A
January 24, 2024
November 30, 2028
TBD
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 750.00 |
| IDA Commitment | N/A |
| IBRD + IDA Commitment | 750.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | 1853.50 |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Jun 13, 2024 | IBRD-96840 | Loan Commitment | 750,000,000.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Moderately Satisfactory | 2024-09-18 |
| Monitoring and Evaluation | Moderately Satisfactory | 2024-09-18 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2024-09-18 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Increased Online filing compliance rate (Value Added Tax) Value 65.00 0.00 90.00 Date December 31, 2022 December 31, 2027 Comment Increase in VAT collection as a percent of GDP Value 1.30 0.00 1.80 Date December 31, 2022 December 31, 2027 Comment The percentage of reconciled oil revenues collected by Federation from NNPC Value 0.00 0.00 100.00 Date December 31, 2022 December 31, 2027 Comment Increased Excise collection from harmful health products Value 0.00 0.00 968.00 Date December 31, 2022 December 31, 2024 Comment Increased CIT online on-time filing rate Value 17.23 0.00 60.00 Date December 31, 2022 December 31, 2027 Comment Increased number of customs registered accredited compliant firms increased Value 0.00 0.00 900.00 Date December 31, 2022 December 31, 2027 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Increase in Number of Expected VAT filers Value 472060.00 0.00 660884.00 Date December 31, 2022 December 31, 2027 Comment Value of goods cleared through green channel Value 0.00 0.00 35.00 Date December 31, 2022 December 31, 2027 Comment Increased transparency of reports submitted by the Nigerian National Petroleum Corporation Value 0.00 0.00 36.00 Date December 30, 2022 December 31, 2024 Comment Excise-collection from green taxes as a ratio of non-oil GDP Value 0.00 0.00 0.20 Date December 31, 2022 December 31, 2027 Comment