Federal Government to make Transport Subsidy Payment Digitally for Six Months.
Written by News Room on November 25, 2021
The Federal government says its transport subsidy payment of 5,000 naira to the vulnerable would be transferred digitally for a minimum period of six months and a maximum of 12 months.
This, the government noted, will happen after the removal of fuel subsidy in June 2022 to give people time to adjust.
Minister of Finance, Budget, and National Planning, Zainab Ahmed, made this known on Wednesday while briefing State House correspondents after the Federal Executive Council meeting chaired by President Muhammadu Buhari.
She underscored that as at the last Federation Account Allocation Committee (FAAC) meeting, fuel subsidy costs the country nearly 250 billion naira per month and three trillion annually as the NNPC remits near-zero naira.
She further encouraged states to financially contribute to the 5,000-naira relief fund to improve the productive abilities of Nigerians.
On Tuesday the minister said Nigeria will remove fuel subsidies by 2022 and replace them with a 5000 naira -a-month transportation grant to the poorest Nigerians.