$800m loan obtained to ease effects of COVID, cash crunch, subsidy removal – Official

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The Minister of Finance, Budget, and National Planning, Zainab Ahmed, recently announced that Nigeria had secured a World Bank facility worth $800 million.

According to her, the $800 million is the first tranche of palliatives to be disbursed through cash transfers to about 50 million Nigerians, who belong to the most vulnerable category in society.

But NASSCO on Wednesday said the facility “will benefit at least 10.2 million poor and vulnerable Nigerian households by way of targeted cash transfers to cushion the effects of existing social and economic shocks including the anticipated petrol subsidy removal.”Recent media reports have put a spotlight on the $800 million facility to be secured by the Federal Government of Nigeria from the World Bank for assistance to vulnerable Nigerian populations.

The NASSP Scale-Up is a follow-on project to the National Social Safety Nets project executed between June 2016 – December 2022, which established the National Social Register as the database of poor and vulnerable Nigerians across the 36 States of the Federation and the FCT; and the framework for delivery of social assistance.

The NSR has been developed through the partnership of State Ministries of Economic Planning, where the State Operations Coordinating Units established by state governments are mandated to build the State Social Register of poor and vulnerable Nigerians.

 

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Na this people wey dey give us loans gangan be out problem in this country

Robbers

Which COVID? The scam 666 ? Of which year COVID 2023-2024? Or what! Nonsense.

🤦

Can we have a look at the register of the beneficiaries and their account names/bvn? Simple question abeg oo

To be honest, we need to fumigate Nigeria as a whole.

This is rather a bribery collected to inflict more harm and suffering on Nigerians by those who don't wish us well to develop and industrialised

We have never seen the benefit, still inflation keeps going.

I have never seen clueless leaderships like yours

This woman is worst then covid 19

The money will mostly be stolen. What's the point?

yahoo yahoo government, thieves masquerading as leaders

Continue

Another wasted grant. This APC led government and its administrators will misappropriate and steal this funds.

Una just dey waste una time

It's a good development I pray it won't end up like Covid-19 palliative

Lol Make una de deceive unaself

We don’t need it. It is a waste.

SCAM

This one Na innocent oleh

You guys know you're leaving soon and wanted to add burden of debts on your generation.

Stealing no dey tire una?

Imagine if it waa ADEOSUN doing all this

These people and loan

Till when?

Jokers..

The self-same $800million that you are going to remove $50million to train some untrained staff,right? Please,stop calling the amount $800million, because 800 - 50 = 750. So call it $750million loan obtained to ease effects of COVID bla bla bla. The $50million is not part of it.

This woman again

🙆🏽‍♀️ abeg who did this to 9ja? Dis one pass abeg

Try to steal without leaving a trace.

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