News
FG to access $750m World Bank loan for states
The Federal Government is in the process of accessing a $750m World Bank loan for states, the Minister of Finance, Budget and National Planning, Zainab Ahmed, announced on Friday.
She said the facility would boost the local economy in the various states, adding that the Federal Government was also considering the cause and consequences of civil unrest and COVID-19 across the country..
Ahmed disclosed this in Abuja at the inauguration of the Federal Steering Committees of the Nigeria COVID-19 Action Recovery and Economic Stimulus, also known as N-CARES.
She said, “The Federal Government is in the process of accessing a World Bank loan of $750m on behalf of the states to stimulate the local economy and support vulnerable households’ consumption.”
On the civil unrest and COVID-19 impact in Nigeria, the finance minister said the consequences would be too high if government ignored the root cause of rising anomaly in Nigeria.
“We must, therefore, fashion out ways of ensuring that post COVID-19 is not injurious to the Nigerian people and the economy,” Ahmed stated.
On the committee that was inaugurated, she explained that to ensure that the implementation of the N-CARES was in line with the Federal Government priorities, the team had to be put in place.
The committee, according to Ahmed, is made up of ministers and permanent secretaries as well as a technical committee that consists of directors of key ministries, department and agencies.
She said, “The inauguration of the committees is expedient given the nature of this emergency intervention. Nigeria as the biggest economy in Africa cannot afford to remain in recession.
“The survival of over 200 million population is germane to all we do and we must address the concerns of the majority of our populace.”
The minister said members of the committee would provide an overall policy direction for the implementation of the programme.
According to her, the Federal Technical Committee would be responsible for the programme oversight, overall guidance, support, coordination, strategic direction, review and approval of the annual work programme as well as budget for the Federal CARES Support Unit.
”Competition has started again” – Reactions trail Regina Daniels and co-wife, Laila’s posts about their husband, Ned Nwoko
“Only self!sh men are intimidated by women’s success, you should be happy that your woman is successful” – Actress Diva Gold to men
“She forms hard to get, but I slept with her the first day I came to her office” – IVD makes bombshell revelation on his relationship with Blessing CEO (Video)
“There’s hunger, however there’s huge” hope – Tinubu Lament
“Simon Ekpa is not our member” – IPOB stated
Diddy claims prosecutors showed judge edited Cassie video to make him look dangerous
“God is still in the business of doing wonders, please keep trusting God” – Emotional moment gospel singer Yinka Alaseyori serenades actress Dayo Amusa who gave birth to her first child at 41 years (Video)
“They don’t look so happy” – Reactions trail video of Chioma and Hailey at Davido’s concert
-
News2 days ago“There’s hunger, however there’s huge” hope – Tinubu Lament
-
News2 days ago“This is m@dness” – Young man disrupts the peace inside banking hall as he plays song using his JBL speaker, clip trends online (Watch)
-
Lifestyle2 days agoNigerian man who passed away 10 years ago confesses he’s currently in Lagos, reveals big secret
-
Biafra2 days agoFG confirms arrest of Simon Ekpa by Finnish authorities