ABUJA — The senate committee on finance has said the 2022 budget did not include the N5,000 transportation grant proposed for N40 million poor Nigerians. A few days ago, the minister of finance, budget, and national planning, Zainab Ahmed, had announced that the country would remove petrol subsidy by 2022 and replace it with an N5000-a-month transportation grant to the poorest of the country’s population. However, the senate committee argued that there is no provision...

A sum of N5000 will be given to citizens monthly for transportation when fuel subsidy is removed according to Zainab Ahmed, minister of finance, budget, and national planning. The minister disclosed that the FG intends to remove fuel subsidies by 2022 and replace them with a 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 explained that the grant will go...

ABUJA — A total of N150 billion bonds will be offered for subscription in November on behalf of the federal government according to the Debt Management Office (DMO) In a circular issued on Thursday, the agency said the bonds will consist of three equal tranches worth N50 billion each. The tranche is a 10-year reopening which will mature in January 2026 at the rate of 12.50%; the second is a 20-year reopening which will mature...