Public Management

Covid-19: Nigeria supports the transport sector, with $26mln

Covid-19: Nigeria supports the transport sector, with $26mln
Thursday, 27 August 2020 15:42

The government of Nigeria approved the disbursement of 10 billion naira ($26 million) to support road carriers in this tough pandemic context. The announcement was made on August 26 by the Minister of State for Transport, Gbemisola Saraki, who was receiving a delegation from the Public Transport Owners of Nigeria Association (PTONA), led by Chairman Isaac Uhunwagho.

The money is domiciled for the time being with the Federal Ministry of Commerce, Industry, and Investment, the minister said, while stressing that her department was already working on the modalities of disbursement.

While the initiative comes as a relief for actors of the transport sector. It remains however insufficient to make up for the accumulated losses. Last June, PTONA members deplored a shortfall of about 200 billion naira ($519 million) as a result of the government's decision to ban interstate travel. The restriction, which lasted 12 weeks, resulted in the dismissal and layoff of several thousand employees.

Romuald Ngueyap

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Cameroon, Congo, and Gabon seek new IMF programs after previous ones expired Regional bloc commits to sustaining reforms and rebuilding...
Program has supported about 50 women-led businesses since 2023 Nearly CFA7 billion mobilized combining financing and technical support New cohort of...
Proparco and RMBV take minority stake through $91 million capital increase Funds to support industrial expansion and West Africa growth Group...
Net profit drops 14% to CFA19.25 billion in 2025 Cost of risk nearly doubles, cutting operating income Bank shifts toward more liquid assets amid...
Most Read
01

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
02

Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...

Cameroon Signs $1.5 Billion Waste-to-Energy MoUs Amid Urban Sanitation Strain
03

MTN Mobile Money Zambia partnered with Indo Zambia Bank to enable payments via bank POS terminals....

MTN Zambia Links Mobile Money to Bank POS in New Partnership
04

UBA UK, BII sign intent to expand trade finance in Africa Partnership targets funding gaps for in...

UBA, British International Investment explore Africa trade finance deal
05

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.