'FG clarifies it is not seeking another $800m loan from the World Bank to cushion petrol subsidy removal. The loan announced by President Buhari is the same $800m already secured. Read more: Nigeria WorldBank Loan PetrolSubsidy'
The federal government has clarified that it was not seeking another $800 million loan from the World Bank to cushion the impact of the impending removal of petroleum subsidy on vulnerable Nigerians.
The finance minister had at the end of the Federal Executive Council meeting on April 5, 2023, announced that Nigeria had already secured $800 million from the World Bank to help provide palliatives to about 50 million poor Nigerians in the aftermath of fuel subsidy removal. “The government is therefore not seeking another loan for the pending fuel subsidy removal. It is the same.
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