Finance Minister, Zainab Ahmed, announced on Thursday that the
World Bank is set to approve $1.5 billion dollars to Nigerian states as part of economic stimulus to cushion the impact of coronavirus.
She briefed State House correspondents after the National Economic Council (NEC) meeting anchored from the Presidential Villa, Abuja.
Ahmed said the World Bank maintains that the impact of the COVID-19 on Nigeria will lead to severe amplified human and economic cost, which will move the country into a recession.
She disclosed that the immediate fiscal relief will also involve policy-based policy budget support for the Federal Government.
It will focus on measures to maintain macro-financial stability and create fiscal space for the stimulus.
“The World Bank package has also got a proposal of 1.5billion dollars for the states and this package will be dedicated to the states and it will be a programme for results which the states are already used to implementing.’’
The Minister said the immediate fiscal relief for the states will include the acceleration of an existing programme to enable disbursement by end of September.
“We are looking at an average of between N150billion to N200billion based on the plan to the 36 states. These are states that have already made some particular commitments and achievements.”
The body meets monthly to discuss economic planning and programmes of various levels of government.
The members include governors, Governor of Central Bank of Nigeria, Minister of Finance, Head of the Civil Service, Secretary to the Federal Government and other relevant government officials.
World Bank is set to approve $1.5 billion dollars to Nigerian states as part of economic stimulus to cushion the impact of coronavirus.
Ahmed said the World Bank maintains that the impact of the COVID-19 on Nigeria will lead to severe amplified human and economic cost, which will move the country into a recession.
She disclosed that the immediate fiscal relief will also involve policy-based policy budget support for the Federal Government.
It will focus on measures to maintain macro-financial stability and create fiscal space for the stimulus.
“The World Bank package has also got a proposal of 1.5billion dollars for the states and this package will be dedicated to the states and it will be a programme for results which the states are already used to implementing.’’
The Minister said the immediate fiscal relief for the states will include the acceleration of an existing programme to enable disbursement by end of September.
“We are looking at an average of between N150billion to N200billion based on the plan to the 36 states. These are states that have already made some particular commitments and achievements.”
The body meets monthly to discuss economic planning and programmes of various levels of government.
The members include governors, Governor of Central Bank of Nigeria, Minister of Finance, Head of the Civil Service, Secretary to the Federal Government and other relevant government officials.
NAN via dailyost
Short of words
ReplyDeleteWas she not the one who talked about recession?
DeleteMore monies to loot by these viruses in power called politicians.
ReplyDeleteThis ones (rulers/robbers)calling themselves leaders are so greedy and heartless.
ReplyDeleteThis is the main reason they are extending the lockdown not for peoples safety.
Every day Ncdc keep giving out fake figures.
They want to make as much money they can.
Mission accomplished
ReplyDeleteThat would be a ‘good’ move but with this lady in the picture, naaaaaaa, the Southern part of Nigeria should just not have high expectations. After the vile comment she made earlier at the beginning of the Covid lockdown, any news with her in the picture recks pretense, vile and evil.
ReplyDeleteDifferent states will start having Coro, shebi na to share money
ReplyDeleteAll Nigerian governors joined the group chat happily ����
ReplyDeleteour politicians dey cash out steady for this country����♂️
That is why politics is a lucrative business in this country.
DeleteI hope and pray that,it's not another loan again because these people keeps cashing out on the virus than the virus itself.
No wonder the Northern Governors said that their states are the worse hit by COVID-19.
Only on God🙏🙏 can Nigeria move forward because we don't have people who has the interests of this country at hearts.
😢😢Well said brown sucre
DeleteHehehe. .Mission accomplished!!
ReplyDeleteGbam!
DeleteBusiness as usual the money after been dispensed would end up in audio... Nigeria my people becoming a citizen is rather a curse as there is no benefit of been a Nigerian. Polithieves Mission accomplished. Naija we hail thee...
DeleteHere we go again...More funds being received without adequate and genuine use. I bet some other folks are being enriched by this covid-19
ReplyDeleteThis conscience less minister.
ReplyDeleteUp until now,Npower beneficiaries are yet to get their April stipend.
🤔🤔🤔🤔🤔🤔
ReplyDeleteMr femi, you that they have used money to turn you to zombie i.e do as i say, I'm sure you read this blog. tell your superiors that i say all of you are the main the main yahoo boys. From you o, to shehu garba, to ehanira or what ever he calls himself to his puppet the NCDC national director to Boss big head mustapha down to the masquerade minister, then up to your ancestor oga at the top.. Infact his own is even yahoo plus.. All of you are thiefs!! Y'all gat no right to go after those young lads with laptops on the street as y'all are just doing same thing but on a very different level. Facking bunch of looters.
ReplyDeleteMaga wan pay...chaiii. champagne things
ReplyDeleteLol they will be so happy for this
ReplyDeleteMission accomplished
This is what they were after all along! now their even intention has been accomplished! 😋😋😗😎
ReplyDeleteCashing out season 🙄🙄
ReplyDeleteMore money for the governors to share and squander on frivolities. 😏😏😏
ReplyDeleteBusiness things.Naija politician I hail o.
ReplyDeleteNo wonder the number is increasing every day.
ReplyDeleteBaba God na who we offend in this country.
I hope Emperor Wike will calm down now. This is looting galore.
ReplyDeleteShebi now they can let us go back to our normal lifestyle?
ReplyDeleteNo wonder the number keeps increasing, they would keep getting funds yet Nigerian citizens suffer
ReplyDelete.I don get blog id,aboy thanks oo
ReplyDeletePlease make una welcome me.
DeleteHi @Logan,you are welcome..#Cheers
Delete@MARTINS
In this naija na only God go help us
ReplyDeleteSee moneyyyyyyyyy
ReplyDeleteBia, is this a dash or a loan that the great great great great grand children still have to pay back?
ReplyDelete