Nigerian Government Borrows $800m for Mass Transit

The Federal Government has secured $800m from the International Bank for Reconstruction and Development to provide post-petroleum subsidy palliatives for over 50 million Nigerians ahead of June 2023. <br />The Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed this to State House correspondents on Wednesday, after this week’s Federal Executive Council chaired by the President, Major General Muhammadu Buhari (retd.) at the Aso Rock Villa, Abuja. <br />Ahmed says the $800m forms the first tranche of palliatives ready to be disbursed to 10 million households in form of cash.