For subsidy palliatives, FG secures $800 million World Bank grant

The government also gave the go-ahead to spend N10.9 billion on the purchase and installation of IT components for the 2023 National Population Census.

The Federal Government has announced a $800 million grant from the World Bank to target 50 million poor Nigerians, or 10 million families, as part of its subsidy palliatives measures ahead of the expected elimination of subsidies in June 2023.

Today’s Federal Executive Council meeting was presided over by President Muhammadu Buhari, and the news was made during the weekly meeting that followed. Zainab Ahmed is the minister of finance, budget, and national planning.

Ms. Ahmed emphasised that discussions over the palliative programme, which takes into account the demand for buses among other factors, are underway with the newly formed Presidential Transition Council (PTC) and the future administration.

The National Population Census of 2023 is slated to take place in May, and 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 a component of today’s FEC approvals, which were presided over by President Muhammadu Buhari.