FinanceNews

Govt. To Make Transport Subsidy Payment Digitally For At Least Six Months

Govt. To Make Transport Subsidy Payment Digitally For At Least Six Months

The Federal government says payment of N5,000 transport subsidy to the vulnerable would be transferred digitally for a minimum period of six months and a maximum of 12 months. Information Guide Nigeria 

According to CHANNELS TV, the Federal government says this will begin after the removal of fuel subsidy in June 2022 in order to give people time to adjust.

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This was disclosed by the Minister of Finance, Budget, and National Planning, Zainab Ahmed while briefing State House correspondents after the Federal Executive Council meeting which was chaired by President Muhammadu. Buhari.

CHANNELS TV reports that Ahmed revealed that at the last Federation Account Allocation Committee (FAAC) meeting, fuel subsidy costs the country nearly N250 billion per month and three trillion annually as the NNPC remits near-zero naira.

According to her, this has made the removal expedient and the support fund upon approval from FAAC for 20-40 million Nigerians will not be done in cash. Jamb Result

She called on states to financially contribute to the N5,000 relief fund in order to improve the productive abilities of Nigerians.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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