The Federal Government has approached the World Bank for a fresh loan of $400m for the conditional cash transfer to 15 million households as one of the measures to cushion the effects of petrol subsidy removal on Nigerians.
According to Punch, the $400m will bring to $1.2bn the amount that the Federal Government is borrowing from the World Bank for the cash transfer as it had earlier secured a loan of $800m for the same purpose.
President Bola Tinubu announced the conditional cash transfer to 15 million households in a nationwide address to commemorate the country’s independence on October 1.
However, the news headline generated mixed reactions among random social media users after Punch shared it on Facebook, with many taking to the comment section to react to the news by dropping their opinions.
Kindly read some of the reactions from Nigerians who commented on the news on social media, Read more comments in the screenshot below: