HighlightTrending Story

Petrol subsidy removal: World Bank releases $800m to FG for palliatives

113

The Federal Government says it has received an $800 million World Bank grant for petrol subsidy palliatives ahead of subsidy removal in June.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this at the post-l-Federal Executive Council (FEC) meeting chaired by President Muhammadu Buhari on Wednesday.

She said the government would be targeting 50 million “vulnerable Nigerians or 10 million households.”

Ahmed said engagements were ongoing with the newly established Presidential Transition Council (PTC) and the incoming administration to drive the palliative program.

She said the palliatives will also include giving out buses to the labor unions and others in the transport sector.

Leave a comment

Related Articles

Forex crisis: FG slams $10bln fine on Binance

The Federal Government has fined a crypto trading platform, Binance, $10 billion...

CBN to sell N1.64trn Treasury bills in Q2 2024

The Central Bank of Nigeria (CBN) has said it will sell Treasury...

African Games 2023: Sports Minister to Team Nigeria: Shatter the Records

With less than eight days to the African Games 2023, Nigeria’s Minister...

Developing law enforcement standards, policing in Nigeria on course, says Police I-G Egbetokun

The Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, has said the mission...

Prof. Soyinka, at Punch’s 50th anniversary, canvasses Nigeria’s decentralisation

Prof. Wole Soyinka, the Nobel laureate, said on Thursday that the decentralization...

We committed $600m to health in Nigeria in 2023, says U.S. Govt.

The United States Government has disclosed that it has committed $20 billion...

Nigeria lacks sufficient reserves to tackle FX demands, backlog in the market, says expert

An economist, Mr. Esili Eigbe, has said Nigeria lacked sufficient reserves to...

NNPCL advocates “War Room” to tackle challenges faced by independent producers

The Nigerian National Petroleum Company Limited (NNPCL) has called for a stronger...

NLC protests: Tinubu spanks labour, urges a breather for his 9-month-old govt

The organized labour under the aegis of the Nigeria Labour Congress (NLC)...

Pogba handed four-year ban for doping

Juventus’ star midfielder, Paul Pogba, has been handed a hefty four-year ban...

Cristiano Ronaldo suspended over alleged offensive gesture in Saudi League game

Saudi Arabia’s football governing body has suspended Cristiano Ronaldo for one game...

Alleged N178bln debt: Reps dismiss petition against NPA, laud Bello-Koko, NPA 

A petition alleging that Mr. Bello Koko, the Managing Director of the...

FG set to sign executive order to control rising drug prices

In a bid to control escalating drug prices across the country, the...

Akeredolu: Pres. Tinubu in Owo, Ondo State, extols him a fearless fighter

Barely a week after the late Governor of Ondo State, Rotimi Akeredolu,...

Abuja power supply drops by 250 MW as vandals destroy Gwagwalada-Katampe transmission line

The Transmission Company of Nigeria (TCN) has disclosed that Tower 70 along...

Oronsaye report: FG allays fear of job losses in rationalized agencies, parastatals

The Minister of Information and National Orientation, Mohammed Idris, has dismissed the...

Family releases funeral rites for Access Holdings CEO, Wigwe, wife, son

The family of the late Herbert Wigwe, the former Group Chief Executive...

Fear grips fans as Nasty Blaq reveals battle with undisclosed ailment

Fans of popular skitmaker Nasty Blaq are apprehensive over news that their...

Why we suspended our nationwide protest – NLC

The Nigeria Labour Congress (NLC) has suspended its two-day national protest as...