FG Secures $800m World Bank Grant For Subsidy Palliatives

FG Secures $800m World Bank Grant For Subsidy Palliatives

As part of its subsidy palliatives measures, the Federal Government has announced a $800 million World Bank grant, aimed at 50 million vulnerable Nigerians or 10 million households, ahead of the planned removal of subsidies in June 2023.

The announcement was made by Zainab Ahmed, Minister of Finance, Budget, and National Planning, during the weekly meeting of the Federal Executive Council, which was chaired by President Muhammadu Buhari today.

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Mrs. Ahmed emphasized that discussions with the newly formed Presidential Transition Council (PTC) and the incoming administration are ongoing in order to drive the palliative program, which includes the need for buses, among other things.

Meanwhile the Federal Government has approved the sum of 10.9 billion naira for the supply and installation of information and communication technology components for the 2023 National population census scheduled to hold in May.

This was part of the approvals by FEC today chaired by President Muhammadu Buhari.

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