Abstract:
The study investigated World Bank and crises of development in Nigeria (1999 to 2008). The criteria for determining the magnitude of development loan assistance from the World Bank approximates with the level of the developmental needs of Nigeria and by extension, other African States. It therefore, contribute to the crisis of development in Nigeria and other African States? Utilizing the theoretical framework of functionalism which is based on the hope that more and more common task will be delegated to such specific functional organizations or agencies of the United Nations like the Bank/IMF; and each of these organizations will become supranational. Relying on secondary source of data, relevant qualitative data were generated for the study. These were analysed using qualitative descriptive analysis. On the basis of this, the study unravelled that there is a positive relationship between the level of loan conditionalities and increase in development loan assistance to Nigeria. Also we noted that there is positive relationship between economic growth and development loan assistance to Nigeria by World Bank. Finally we remarked that there is no significant relationship between Nigeria’s higher ability to service loans and increase in World Bank credit portfolio to Nigeria.
