Zainab Ahmed: FG will replace fuel subsidy with N5,000 transport grant for 40m Nigerians

Spread the love

Zainab Ahmed, minister of finance, budget and national planning, says Nigeria will remove fuel subsidies by 2022 and replace them with N5000-a-month transportation grant to the poorest Nigerians.

 

Speaking at the launch of the World Bank Nigeria Development Update (NDU) on Tuesday, the minister said the grant will go to about 30 to 40 million Nigerians who make up the poorest population of the country.

She said the final number of beneficiaries will depend on the resources available after the removal of the fuel subsidy.

“The subsidies regime in the [oil] sector remains unsustainable and economically disingenuous,” she said.

“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 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.”


Click HERE to Register

The World Bank in the development update had said the poorest 40% in Nigeria consume less than 3% of the total PMS in the country, highlighting that the rich were benefiting more from the subsidies.

“We are very optimistic that the recent developments in the oil sector, such as the Petroleum Industry Act (PIA) 2021, hopefully, the full reactivation of the 4 public refineries in the country, and the completion and coming on stream of the 3 private refineries under construction in 2022, would significantly boost contribution from the sector to our economic growth efforts,” Ahmed added.

“I agree with the Report that with the expansion of social protection policies during the pandemic, the government has an opportunity to phase out subsidies such as the PMS subsidy while utilizing cash transfers to safeguard the welfare of poor and middle-class households.”

Ahmed said this move is set for June 2022, but the federal government hopes to do this before June — in line with the Petroleum Industry Act (PIA).



Call Bridget Edokwe Esq on 08060798767 or send your email to ngbarrister@gmail.com



CLICK HERE DOWNLOAD TO APP  

The price of the book is fifteen thousand Naira (N 15,000) only.
Call any of the numbers below to place your order 08104426598 ,08052508679, 08106743227; or visit, Theemploymentlawhandbook.com. for more information.


To view About the book Author, Foreword and Table of Content, click Below [https://godigital.ng/about_book.pdf] To Place order and Cost, click here [https://godigital.ng/place_order.aspx Any further question or clarification call 08163162202 or send mail to info@godigital.ng



Our contact information are as follows: 234-1-3428150, 2347062320392. We can also be contacted via email at info@aucourantlegal.org. Our offices are located at Florence Place, 7B, Iweanya Ugbogoh Crescent, Lekki 1, Lagos.



Available at Frank Agbedo & Co. Crown Chambers. 5th floor, left wing, Nipost Building, Lagos Island, Lagos State. Tel: 08033254471, 09077950432 Email: frankagbedo@gmail.com

Price: ₦20,000 or £25 per copy [Hard Back– 20 chaps/715 pages] Contact Information Email: info@idrinstitute.com, info@adrinafrica.org WhatsApp only: 0803-703-5989 Voice Call – Mobile: 0817-630-8030,+234-805-2128-456, +234-909-9651-401 Landline: 09-2913581, +234-9-2913499, +234-9-2919209 Office Address: 50 Julius Nyerere Crescent, [Next To The World Bank], Asokoro, Abuja – Nigeria. Bank Account Details; Bank Name: UBA Plc.; Account Name: International Dispute Resolution Institute; Account Number: 1014072579

The Book cost N8,000 per copy. (Delivery cost applies for order outside Uyo) To order your copy call: 08084876049; 08055458711 or email: ekokoisolomon@yahoo.com



TO ORDER/BUY THE BOOK CLICK BELOW https://flutterwave.com/store/juristpublicationseries - Alternative Mode of Payment: Pay to: Jurist Publication Series, GTBANK 0218803029-- Upon payment, call or text.
Price N12,000 per copy shipping fee inclusive

Price: 20,000 or £25 per copy [Hard Back– 21 chaps/700 pages]: Contact: info@idrinstitute.com, info@adrinafrica.org WhatsApp only: 0803-703-5989 : Voice Call – Mobile: 0817-630-8030, 0909-965-1401; 0705-767-0347; 0912-173-4691 : Landline: 09-2913581; 09-2913499>

Steps To Subscribe To the Court of Appeal Reports Nigeria



Our contact information are as follows: 234-1-3428150, 2347062320392. We can also be contacted via email at info@aucourantlegal.org. Our offices are located at Florence Place, 7B, Iweanya Ugbogoh Crescent, Lekki 1, Lagos.



BESTSELLER: Get A-Z of contemporary laws of ELECTRONIC EVIDENCE in Nigeria By Alaba Omolaye-Ajileye. To ORDER, sms or call : +2347063666998, +2348159307051 or email jurispublicationseries@gmail.com

1 Response

  1. NAJITE SEGUN LELEJI says:

    The same way poorest of the poorest was promised N5000 during lockdown and we did not see anything.Please it is realy unfair that people in government cannot be trusted,but playing on our intelligence and overwhelming us with series of problems.Well keep it up,God will arise for the poor one day.

Leave a Reply

Your email address will not be published.

%d bloggers like this: