On Wednesday, the President of Nigeria, Muhammadu Buhari, made a formal request to the Senate for approval of an $800 million loan. This loan, which would be obtained from the World Bank, would be used to expand the National Social Safety Net Programme.
In a letter that was read aloud to the Senate by the President of the Senate, Ahmad Lawan, President Buhari emphasized the importance of the loan in boosting the country’s social safety net initiatives.
The National Social Safety Net Programme is a government-led initiative designed to provide assistance to the most vulnerable members of society. It aims to alleviate poverty, reduce inequality and promote inclusive growth. The programme has been successful in delivering cash transfers to millions of Nigerians, enabling them to access basic necessities such as food, shelter and healthcare.
President Buhari’s request for the loan is in line with the government’s commitment to expanding the social safety net programme, ensuring that more Nigerians have access to the benefits it provides. The loan will enable the government to increase the number of beneficiaries and improve the quality of services provided.
It is important to note that the loan request is subject to approval by the Senate. If approved, it would be a significant boost for the National Social Safety Net Programme and could have far-reaching benefits for the country’s most vulnerable citizens.
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