Minister of Finance, Budget and National Planning, Zainab Ahmed, has said that Nigerians would get N5,000 per month as a transportation grant after the removal of fuel subsidies.
According to the Minister, the Federal Government will remove fuel subsidies by 2022 and give the poorest Nigerians a transportation grant of N5,000.
Ahmed said this on Tuesday, at the launch of the World Bank Nigeria Development Update in Abuja, stating that about 30 to 40 million Nigerians, who are the poorest in the country, would have access to the grant.
She said, “The subsidies regime in the [oil] sector remains unsustainable and economically disingenuous.
“Ahead of the target date of mid-2022 for the complete elimination of fuel subsidies, we are working with our partners on measures to cushion the potential negative impact of the removal of the subsidies on the most vulnerable at the bottom 40% of the population.
“One of such measures would be to institute a monthly transport subsidy in the form of cash transfer of N5,000 to between 30 – 40 million deserving Nigerians.”