The Federal government says it is in need to get $750 million from the World bank for certain states to stimulate local economies in Nigeria.
Minister of Finance, Budget, and National Planning, Zainab Ahmed, uncovered this at the inauguration service of the Federal Steering Committees of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) in Abuja on Friday, November 13.
As per the Finance Minister, the Nigerian Government "is in the process of accessing a World Bank loan of $750 million on behalf of the states, to stimulate the local economy and support vulnerable household’s consumption".
On the common distress and COVID-19 effect in Nigeria, the money serve said the results would be excessively high if government disregards the main driver of rising abnormality in Nigeria.
''The consequences will be too high if we ignore the root cause of rising civil unrest in our country. We must, therefore, fashion out ways of ensuring that post Covid-19 is not injurious to the Nigerian people and the economy” she said
