FG secures $800M from World Bank to scale up NSIP

The Federal Government has secured the sum of eight hundred million dollars from the world bank as part of measures to scale up the national social investment program in preparation for the removal of fuel subsidy in June.

The Minister of Finance, Budge and National Planning Zainab Ahmed disclosed this to journalists at the end of this week’s federal executive council meeting chaired by President Muhammadu Buhari.

It seems The federal government is already taking proactive measures to cushion the effect of the hardship that will follow the removal of fuel subsidy in June this year.
The minister of finance says the 2023 medium-term expenditure framework and the appropriation act will make provisions for the vulnerable in the society captured in the federal government’s National Social Register.

The Federal Executive Council also granted approval for the National Population Census to boost its ICT infrastructure ahead of the headcount scheduled for Next Month.
Also the Economic and financial crimes commission got a favourable consideration for its memo to build a new training facility.

The Federal Government is paying more attention to growing the non-oil economy and boosting its contribution to the Gross Domestic Product.
The Council considered the need to send an executive bill to the national assembly that will repeal the now obsolete Nigeria Mineral and Mining Law of 2007.

This week’s federal executive council also approved 65 million naira for the supply of fire crash tenders to selected airports.
Also, 1 billion Naira was approved for the purchase of operational vehicles for the Nigeria Ports Authority.