Speaking at the launch of the World Bank Nigeria Development Update (NDU) on Tuesday, the minister said the grant will go to about 20 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 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.
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).
Follow us on:
The federal government has reinstated Professor Joseph Ikechebelu as acting Vice-Chancellor of UNIZIK, nullifying Professor…
Court of Appeal has overturned the Federal High Court ruling barring INEC from releasing voter…
Kenya has cancelled airport and energy deals with Adani following US bribery and fraud charges…
Brazil’s former president Bolsonaro and 36 others have been indicted for allegedly attempting a coup…
Republican David McCormick won Pennsylvania Senate seat as Democratic Sen. Bob Casey concedes after recount…
Trudeau's government has announced plans for temporary tax relief, cheques for Canadians amid rising costs…