TechEconomy
  • About
  • Privacy Policy
  • Careers
  • Manage Subscriptions
Saturday, September 30, 2023
Advertisement
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Apps
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Podcast
  • TECHECONOMY TV
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Apps
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Podcast
  • TECHECONOMY TV
No Result
View All Result
Tech | Business | Economy
No Result
View All Result

Home » Subsidy: FG Secures $800M World Bank Facility for Palliatives

Subsidy: FG Secures $800M World Bank Facility for Palliatives

Justice Godfrey Okamgba by Justice Godfrey Okamgba
April 6, 2023
in Finance
0
World Bank
Sifax
Advertisements

The World Bank has given the Nigerian government $800 million to set up a comprehensive palliative scheme for its citizens prior to the elimination of fuel subsidies in June 2023.

The Federal Government January had hinted at stopping the payment of fuel subsidies by the end of June 2023

RelatedPosts

Tax Reforms Committee and FIRS

Why FIRS Sent N5bn to Presidential Tax Committee – Oyedele

September 30, 2023

78% of SMEs in Nigeria Expect Similar Revenue in 2023 – Mastercard report

September 30, 2023

Zainab Ahmed, Minister of Finance, Budget, and National Planning, announced on Wednesday that $800 million is the first tranche of palliatives to be disbursed through cash transfers to about 50 million Nigerians to the most vulnerable category of society.

“We made that provision to enable us to exit fuel subsidies by June 2023 when we were working on the 2023 Medium Term Expenditure Framework and the Appropriation Act,” she says.

We’re on track, we’re engaging various stakeholders, and we’ve secured some World Bank funding. That is the first tranche of palliatives that will allow us to provide cash transfers to our society’s most vulnerable members, who have now been registered in a national social register.

“Today, that register has a list of 10 million households.” Ten million households are equivalent to about 50 million Nigerians.

Ad 16
Advertisements

Cushioning the Effects of Subsidy Removal

The Finance Minister said there are plans to go beyond cash transfers to cushion the effect the subsidy removal will have on Nigerians.

Her words: “We also have to raise more resources to enable us to do more than just the cash transfers, and also in our engagements with the various stakeholders, the various kinds of tasks that we have to go beyond the requirement of just giving cash transfers. Labor, for example, might be looking for mass transit for its members.

“So there are several things that we’re still planning and working on, some we can start executing quickly, and some are more medium-term implementations.”

Ahmed said: “$800 million for the scale-up of the National Social Investment Programme at the World Bank, and it’s secured, ready for this disbursement.”

Advertisements
innovation
AIT
Advertisements
Tags: CBNMinister of FinancePalliativeWorld Bank
ShareTweetSend
Previous Post

Cyber Incidents, Macroeconomic Devs, Legal Changes Top Risks for Financial Institutions – report

Next Post

Business Interruptions among Top Risks for TMT in 2023

Justice Godfrey Okamgba

Justice Godfrey Okamgba

Related Posts

Tax Reforms Committee and FIRS
Finance

Why FIRS Sent N5bn to Presidential Tax Committee – Oyedele

by Peter Oluka
September 30, 2023
0

Mr. Taiwo Oyedele, Chairman, Presidential Fiscal Policy and Tax Reforms Committee, has offered explanations regarding the five billion naira (N5,000,000,000,000),...

Read more
Mastercard SME Confidence Index on SMEs in Nigeria

78% of SMEs in Nigeria Expect Similar Revenue in 2023 – Mastercard report

September 30, 2023
cbdcs and Financial inclusion

CBDCs: What They Mean for Financial Inclusion, Private Sector Banks

September 28, 2023
Adesola Adeduntan speaks on investors in Nigeria

Why Investors of Today Will Smile to Bank in Five Years – Adeduntan, First Bank MD

September 25, 2023
Enabling African Merchants

How Embedded Finance is Empowering African Merchants

September 25, 2023
Nathaniel Nyika on Debt Financing in Africa

Why Debt Financing is so Important for the African Business Market

September 22, 2023
Next Post
AGCS Global Industry Solutions TMT Outlook

Business Interruptions among Top Risks for TMT in 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ad 16
Advertisements

NEWSLETTER

Subscribe

* indicates required
Techeconomy
Advertisements
Ad 15
Insurance Meet Tech
Advertisements
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
​Sodiq Tijani Toju Africa

Meet Sodiq Tijani, a Product Expert and Entrepreneur Banking the Unbanked

March 2, 2023
Product Led vs Sales Led Business Models

Product Led vs Sales Led Business Models: What Startups Should Know

January 10, 2023
Samsung Galayx A04e - Cheapest Samsung Phones in 2023

Cheapest Samsung Phones in 2023

September 11, 2023
Sodiq Tijani Youcloudpay

How Sodiq Tijani is Empowering African SMEs for Economic Growth

February 9, 2022
Google Cybersecurity Scholarship

Google Recognizes Shortage of Cybersecurity Experts in Africa, Announces Scholarships

22

Ad Dynamo Has Eyes on Nigeria – CEO

19

Digital Marketing in Africa: Bringing Much-Needed Skills to Nigeria’s Youth

16

Ad Dynamo by Aleph Group Launches free Digital Academy

14
ASUS ROG Strix G16 Review

ASUS ROG Strix G16 Review: Pinnacle Performance and Innovation Unleashed

September 30, 2023
International Podcast Day

Top 10 Podcasts of the Decade: A Journey Through Audio Excellence

September 30, 2023
International Podcast Day

Behind the Voices: Spotlight on Global Renowned Podcast Hosts

September 30, 2023
Telecom Operators - MNOs want price regime review

Ubiquitous Network Access: Reasons NCC, MNOs and Vendors Should Embrace Emetrics

September 30, 2023

Follow Us

MarkTECH

No Content Available

WomenPreneurs

Hiring in South Africa by Jessica Hawkey redAcademy
WomenPreneurs

Women in Business: Q&A with Jessica Hawkey, Founder & MD of redAcademy

by Techeconomy
August 22, 2023
0

"Jessica Hawkey is the Managing Director of redAcademy"

Read more

BusinesSENSE For SMEs

Managing Difficult Customer
BusinesSENSE For SMEs

Five Keys to Managing Difficult Customers

by Techeconomy
August 23, 2023
0

You will at one point in your business be confronted with dealing with difficult customers. So, mastering the right strategies...

Read more
  • About Us
  • Career
  • Contact Us
  • Policy
  • en English
    • ar Arabic
    • en English
    • fr French
    • ha Hausa
    • ru Russian
    • yo Yoruba

© 2023 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Apps
      • Gadgets and Appliances
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Podcast
  • TECHECONOMY TV

© 2023 Techeconomy - Designed by Opimedia.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.