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.
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