Tinubu Seeks Senate Approval Of $800m World Bank Loan Earlier Presented By Buhari
President Bola Tinubu has requested the approval of the Senate for an additional $800 million loan.
This loan will be used to expand the coverage of shock-responsive safety net supports for all vulnerable Nigerians, helping them cope with their basic needs.
If the loan is approved, 12 million Nigerians will receive N8000 monthly for a period of six months. These funds will be transferred directly to beneficiaries' accounts and mobile wallets through digital transfers.
It is worth noting that President Muhammadu Buhari had previously sent a similar letter to the National Assembly, but no legislative action was taken due to its late submission.
In his letter to the Senate, President Tinubu stated that the Federal Government of Nigeria aims to support 12 million poor and low-inco...