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FG secures $800m World Bank grant for subsidy palliatives

The federal government of Nigeria on Wednesday secured an $800 million grant from the World Bank, as part of its subsidy palliative measures to cushion the effects of subsidy removal in June 2023.

Zainab Ahmed, minister of finance, budget and national planning, made this known during the Federal Executive Council meeting chaired by President Muhammadu Buhari today.

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Ahmed said that engagements are ongoing with the newly established Presidential Transition Council (PTC) and the incoming administration, to drive the palliative program, which includes the need for buses, among various considerations.

The FG also approved N10.9 billion for supplying and installing information and communication technology components for the May 2023 National population census. This was part of the approvals by FEC today chaired by President Muhammadu Buhari.

Details later.

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