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
Funding part of $250 million raise to boost investor confidence Fintech expands services, processes $40 billion across 30...
ACK Holding signed an agreement to acquire Colas Gabon, a subsidiary of Bouygues. The deal includes industrial assets and 254 employees, with...
BICICI posted a net profit of CFA36.5 billion ($65.4 million), up 39.3% year-on-year in 2025. Customer loans fell to CFA524.4 billion as the...
Shares gained 42.36% in 2025 and hit an all-time high of 37,500 CFA francs in 2026, delivering investors a sustained rally on the BRVM...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...

Mauritanian Telecom Operators Submit $27 Million Combined Bid for 5G Licenses
04

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
05

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
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.