EXPLAINER: ‘Funding package, beneficiaries’ — What to know about FG’s $800m petrol subsidy palliative | TheCable
was established by President Muhammadu Buhari in 2015 to address short-term and long-term socio-economic imbalances and inequality.
The project was set up to expand coverage of shock-responsive safety net support among the poor and vulnerable, and strengthen the national safety net delivery system.In line with the minister’s announcement, the NASSP-SU targets 10.2 million households, and will be implemented nationwide.News of the fund and its intended use has been received with mixed feelings across the country.
“The percentages represent the percentage of the principal amount of the credit to be repaid, except as the association may otherwise specify pursuant to section 3.05 of the general conditions,” the World Bank document reads.he maximum commitment charge rate of the loan is 0.5 percent per annum on the unwithdrawn financing balance.service charge of 0.75 percent on the withdrawn credit balance, as well as an interest charge of 1.25 percent per year, on the withdrawn credit balance.
At the FEC meeting mentioned earlier, Ahmed said the fund was “ready for this disbursement”, adding that “However, the modality for making the cash transfer is what has to be well defined to ensure process transparency,” he said.
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