The Federal Government has secured $800m from the International Bank for Reconstruction and Development (a.k.a, the World Bank), to provide post-petroleum subsidy palliatives for over 50 million Nigerians ahead of June 2023.
Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed this to State House Correspondents on Wednesday, after this week’s Federal Executive Council chaired by the President, Major General Muhammadu Buhari at the Aso Rock Villa, Abuja.
“There’s a provision that says 18 months after the effectiveness of the PIA that all petroleum products must be deregulated. That 18 month takes us to June 2023. “We’re on course, we’re having different stakeholder engagements, we’ve secured some funding from the World Bank, that is the first tranche of palliatives that will enable us to give cash transfers to the most vulnerable in our society that have now been registered in a national social register.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NHIA-Roche Partnership: 55 Patients Get 80% Subsidy On Cancer TreatmentNational Health Insurance Authority's (NHIA) partnership with healthcare company, Roche has given 55 cancer patients access to innovative cancer medicines at
Read more »
Another 144 stranded Nigerians return from Niger Republic - NEMAMr Abdullahi, represented by NEMA Kano Head of Human Resources, Suleiman Sa’ad-Abubakar, said that the returnees arrived at the...
Read more »
Disregard content of malicious video - Katsina Police urges NigeriansThe Katsina Police Command on Monday has described as mischievous and untrue a viral video depicting aliens invading Katsina State. A statement by Police
Read more »
NEMA receives 144 stranded Nigerians from Niger RepublicThe National Emergency Management Agency (NEMA) on Monday received another batch of 144 stranded Nigerians from Niamey in Niger Republic. Dr Nuradeen
Read more »
Arrest Nigerians Behind Interim Government Plot, House Of Reps Tells Secret Police, DSS | Sahara ReportersThe members of the House of Representatives on Tuesday condemned calls for an interim government from some quarters in Nigeria. The lawmakers at the plenary on Tuesday said those against the inauguration of a democratically-elected government on May 29, 2023, should have a rethink. A statement issued on Tuesday urged the Department of State Services (DSS) and other security agencies to be on alert and forestall any plan to destabilise the country.
Read more »
Access Bank gets $300 million capital investment to drive African expansionThe investment takes the form of a Tier 1 capital qualifying mandatory convertible instrument
Read more »