Fuel Subsidy: FG secures $800 million World Bank facility

The Federal Minister of Finance, Budget and Planning of Nigeria, Zainab Ahmed gave the announcement during the weekly after the Federal Executive Council meeting chaired by President Muhammadu Buhari today.

Newslensng reports that the Federal Government has announced an $800 million grant from the World Bank, targeting 50 million vulnerable Nigerians or 10 million households, as part of its palliatives measures ahead of the planned subsidy removal in June 2023.

This online newspaper understands that the Minister of Finance, Budget and National Planning, Zainab Ahmed gave the announcement during the weekly after the Federal Executive Council meeting chaired by President Muhammadu Buhari today.

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Reports that Mrs Ahmed underscored 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.

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.

More details shortly.

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