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
Adenia Partners acquires a majority stake in Cairo-based Parkville Pharmaceuticals in its first deal in Egypt. The transaction marks Adenia’s entry...
Ecobank Côte d’Ivoire strengthened financial performance in 2025, with net profit exceeding CFA57 billion and dividends set at 77% of earnings. The...
Angola plans to introduce a debt-for-health swap mechanism in 2026 to reduce debt costs and fund healthcare. The government targets about $1.7...
Zambia has completed its IMF program, quietly rebuilding credibility as growth, inflation and fiscal metrics improve faster than market perceptions...
Most Read
01

The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...

South Africa’s BoxCommerce Partners with Mastercard on SME Fintech Solution
02

Circular migration is based on structured, value-added mobility between countries of origin and host...

Circular migration as a lever to turn Africa’s student exodus into value
03

Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...

Togo accounts for 16.2% of cross-border bank financing in WAEMU
04

President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...

Nigeria approves targeted incentives to speed up Shell’s Bonga South West project
05

BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...

BRVM Lists Burkina Faso’s First Securitization Fund Bonds
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.