Here are the finacial identities and status of those who will be eligible for the N5000 transport grant
Nigerian 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 Government will remove fuel subsidies by 2022 and give only the poorest Nigerians a transportation grant of N5,000.
Platforms Africa reports that the government has, through previous social intervention, once described the poor to include those with less rhan N5,000 net deposit in theit account.
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Ahmed said at the launch of the World Bank Nigeria Development Update in Abuja 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.”
Ahmed also expressed hope that the Petroleum Industry Act 2021, the reactivation of public refineries, and the expected opening of three new private refineries in 2022 would boost economic growth.
