June 2, 2023
News Today In the News

Nigeria Gets $800m World Bank Grant For Subsidy Palliatives

In a bid to aid the transition to an economy devoid of fuel subsidy, the World Bank has given Nigeria an $800m grant which, the Minister of Finance, Budget and National Planning, Zainab Ahmed, tells us, will go towards some palliative measures.


Speaking during the weekly briefing after the Federal Executive Council Meeting, Minister Ahmed says the palliatives would target 50 million vulnerable Nigerians or 10 million households.


She also added that discussions are ongoing at the Presidential Transition Council (PTC) with the incoming administration, to drive the palliative program, which includes the need for buses among various considerations.

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