'He is just advertising ignorance' - Dr Abati blows hot; condemns Senator who said $800m is not a World Bank loan

Dr Reuben Abati has stressed that the 800 million dollars approved by the World Bank for Nigeria to create a social safety net for poor Nigerians in a loan.

This is against comments by unnamed members of the upper chamber in Nigeria's National Assembly that it wasn't a loan to Nigeria.

Recall that President Muhammadu Buhari had, towards the tail end of his administration, forwarded same request to the 9th Senate in May.

But the 9th Assembly could not consider the request before its tenure ended in June 11.

Tinubu, in a letter read by Senate President Godswill Akpabio during plenary Thursday, asked the 10th Senate to approve the borrowing request. The request had since been approved and will be paid to Nigeria in tranches.

While the conversation on how the monies will be spent is ongoing, many have reacted to rife reports that the National Assembly will receive around $70 billion of the funds to improve the working conditions of its new members.

The National Assembly has since invoked the anger of Nigerians on the matter.

Speaking on the subject, Dr Abati said: "The world bank country director, Dr Shubham Chaudhuri made it clear last year or was it this year that the 800 million dollars was a loan. It was approved by the world bank board in December 2021. It was the Buhari government that applied for it to provide a social safety net and social intervention for Nigerians."

"And they were specific, this 800 million dollars at that time was meant for this same cash transfer to Nigerian households and the world bank made it very clear. This is why people laugh at us, a whole Senator who speaks for the Senate doesn't even know what is going on, he is just advertising ignorance."

"I don't know how this sort of characters get to speak for anybody. And when you take money, you will pay. Zainab Ahmed, the former Minister has made it clear that the world bank is going to give this money in tranches."

"And I keep saying that the Senators approving it have borrowed the money on behalf of all of us and we are the ones who will pay it back."