Fuel pump. The government says it will target 30 to 40 million people, but it will depend on resources. The federal government will remove fuel subsidy and replace it with a monthly N5000 transport grant to poor Nigerians, the Minister of Finance, Budget and National Planning , Zainab Ahmed, has said. Speaking at the launch of the World Bank Nigeria Development Update (NDU) on Tuesday, the minister said the transport grant will target about 30 to 40 million Nigerians who make up the poorest population of the country. She said the available resources after the removal of fuel subsidy will determine the number of beneficiaries. The Nigerian government spends trillions of naira yearly on payment of subsidy on petroleum products. It has repeatedly tried to cut off the payment in favour of market-determined prices. It argues that the huge amount would be used to fund critical projects, a position […]