Latest Politics Top Stories

COVID-19: Buhari endorses distribution of $150m from Sovereign Wealth Fund among govt tiers

Minister-of-Finance-Zainab-Ahmed

In a move to further tackle the spread of the dreaded COVID-19 pandemic, President Muhammadu Buhari has approved the withdrawal of $150 million for distribution to the three tiers of government.

This was disclosed on Monday by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed at a media briefing on the fiscal policy measures to tackle the impact of the Coronavirus pandemic on the economy.

Read also: Jonathan attacks former US envoy over comment on 2011 election

According to her, the amount would be withdrawn from the stabilisation fund component of the Sovereign Wealth Fund being managed by the Nigerian Sovereign Investment Authority (NSIA)

The minister further stated that the money was to help cushion the negative impact of the drop in revenue on the federation account.

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!