The widespread opposition to the planned N5,000 transport grant in lieu of fuel subsidy removal intensified over the weekend with business leaders advocating investment in critical infrastructure like transport, health and education as a better way of reducing the expected inflationary impact of the policy on the masses.
Last week, the Federal Government announced plans to remove fuel subsidy and palliative of N5,000 month transport grant to 40 million poor Nigerians.
The proposed palliative, translates to N2.4 trillion annually, and 231 per cent higher than the N725 billion average annual subsidy payment by the FG between 2016 and 2019.
Responding to Vanguard enquiries, Minister of Finance, Zainab Ahmed, said that the proposed palliative will be implemented over a period of between not exceeding 12 months.
However, the proposed palliative was greeted with widespread opposition…