Nigerians to get N5,000 transport grant after removal of Fuel subsidy – Finance Minister, Zainab Ahmed

Minister of Finance, Budget and National Planning, Zainab Ahmed, has disclosed that Nigerians would get N5,000 monthly transportation grant after the removal of fuel subsidies.

Ahmed said the Federal Government will remove fuel subsidies by 2022 and give the poorest Nigerians a transportation grant of N5,000.

Speaking at the launch of the World Bank Nigeria Development Update in Abuja on Tuesday, the Minister disclosed that 30 to 40 million poor Nigerians will have access to the grant in a bid to cushion the negative impact of the subsidy removal.

“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, she said