The President, Major-General Muhamadu Buhari (retd.), has given approval for the withdrawal of $150m from the Sovereign Wealth Fund for distribution to the three tiers of government.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, disclosed this on Monday, in Abuja during a media briefing on the fiscal policy measures to tackle the impact of the Coronavirus pandemic on the economy.

She said the amount would be withdrawn from the stabilisation fund component of the Sovereign Wealth Fund.

The fund is currently being managed by the Nigerian Sovereign Investment Authority, The PUNCH reports.

Zainab said the need to withdraw the amount was to cushion the negative impact of the drop in revenue on the federation account.

Details later…

https://punchng.com/breaking-covid-19-buhari-approves-withdrawal-of-150m-from-sovereign-wealth-fund/

Lolz

That is what this man is good at, take money anywhere it is seen and squander it. If money can't be seen, borrow and squander. Knows how to spend but don't know how to make.

BULLHARY IS A THIEF

Wailers oya over to you. The US Government last week approved over 10 trillion dollars to fight Coronavirus. I’m still trying to calculate the equivalence in Naira, money that is more than our full national budget times 400. But here, we wail over any and everything.

Chai chai...There is godu ooo!

All these money you people are sharing...na only u waka come?
“Jubril Al Soudani” n APC will destroy Nigeria by the time they are through with the zoo

The free for all looting going on under the brain dead dumboharry is unprecedented.

With President Kyari incapacitated, every government official is taking a huge chunk from the reserve, claiming Bokoharii that can’t even remember his name gave the order. I laff.

" ... for distribution to the three tiers of government." That is to be shared among Federal, States and Local government areas.

It is certainly NOT for President Buhari, Aisha, Yusuf and Hannan to use to flex.

Approve, Approve, Approve. Na wa oh

The earlier we accept that we don't have a president, the better for Nigerians

This man and him government get sense @ all?

Take take take...

Where are you taking it to

All the palliative money una dey share who dey receive am? Ghosts?

God save us from the strange government o

Those who will survive the virus will be surprised with the amount Govt will quote that was saved them.

Even if there was no covid 19, Buhari would have still asked to take it.

The ones he has access to like foreign reserve and ECA, we know how far.

He squandered them and borrowed more.