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FG Secures $800m from International Bank for Reconstruction

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The Federal Government has secured $800m from the International Bank for Reconstruction and Development to provide post-petroleum subsidy palliatives for over 50 million Nigerians.

Minister of Finance, Budget and National Planning, Zainab Ahmed, revealed this after this week’s Federal Executive Council meeting in Abuja.

According to Ahmed, the $800m forms the first tranche of palliatives ready to be disbursed to 10 million households in form of cash.

Written by: Helen Obih

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