Fuel Subsidy
Federal Government $800 million World Bank Facility – Fuel Subsidy removal Palliative 2023/2024- This article is to update the general public on what has been in circulation as disclosed by Minister of Finance, Budget and National Planning, Zainab Ahmed. Read more under.
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Federal Government to disburse $800 million to 50m Nigerians as Palliative for Petrol Subsidy removal. Federal Government of Nigeria has secured a $800 million World Bank facility for petrol subsidy removal palliative.
The Fuel Subsidy removal Palliative 2023/2024 will be disbursing 50m Nigerians across 36 States in Nigeria including FCT Abuja as Palliative for Petrol Subsidy removal.
The Minister of Finance, Budget and National Planning, Zainab Ahmed stated that the money $800 was first tranche of the palliatives to be disbursed through cash transfers to about 50 million Nigerians, who belong to the most vulnerable category of society.
Application form link portal will be open for this intensive $800 million disbursement to 50m Nigerians as Palliative for Petrol Subsidy removal, requirements and how to apply online will be update as soon registration form portal is open for 2023/2024 Federal Government $800 million World Bank Facility for Fuel Subsidy removal Palliative.
Today that register has a list of 10 million households. 10 million households are equivalent to about 50 million Nigerians.
Also, when we were working on the 2023 Medium Term Expenditure Framework and Appropriation Act, we made that provision to enable us exit fuel subsidy by June 2023. We’re on course, we’re having different stakeholder engagements, we’ve secured some funding from the World Bank, that is the first tranche of palliatives that will enable us give cash transfers to the most vulnerable in our society that have now been registered in a national social register.
Likely, the disbursement will commence June 2023.
Tune to us always for more update.
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