Breaking – Covid-19: FG goes for loan, set to share $150m among states, LGs


The federal government is withdrawing $1.5 billion from the stabilization fund of Nigeria Sovereign Wealth Fund to be shared among the three tiers of government.

Minister of Finance, Budget and National Planning Mrs Zainab Ahmed who disclosed this during a press briefing said the amount would be withdrawn from the stabilisation fund component of the Sovereign Wealth Fund.

Ahmed said the federal government has applied for a cumulative loan of about $7 billion to mitigate effects of COVID-19 () pandemic.

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