Politics
Subsidy Removal: Nigerian govt gets $800m World Bank grant for palliatives
A $800 million World Bank grant has been announced by the federal government as a part of its palliatives efforts ahead of removal of subsidy on petrol.
This information was revealed by the Minister of Finance, Budget, and National Planning, Zainab Ahmed, on Wednesday during the weekly meeting of the Federal Executive Council (FEC) which was presided over by President Muhammadu Buhari.
The minister stated that the palliatives would be given to 10 million homes, or 50 million vulnerable Nigerians to cushion the effect of the subsidy removal.
READ ALSO: Buhari to allow Tinubu decide measures for fuel subsidy removal
In order to advance the palliative program, which takes into account the need for buses among other necessities, Ahmed emphasized that continued interactions with the newly constituted Presidential Transition Council (PTC) and the incoming administration are ongoing.
Meanwhile, for the National Population Census of 2023 which is slated to take place in May, the Federal Government has set a budget of 10.9 billion naira for the purchase and installation of information and communication technology components.
This was another one of Wednesday’s FEC approvals, which President Muhammadu Buhari presided over.
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