President MUHAMADU BUHARI has given approval for the withdrawal of 150 million dollars from the Sovereign Wealth Fund for distribution to the three tiers of government.

The Minister of Finance, Budget and National Planning, ZAINAB AHMED, disclosed this in Abuja during a media briefing on the fiscal policy measures to tackle the impact of the coronavirus pandemic on the economy.

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