Finance Minister, Zainab Ahmed has revealed that the Federal Government plans to pay N5,000 to “10 million households for six months”, as palliatives for removing petrol subsidy after June.

Ahmed, who spoke on the sideline of the World Bank/ International Monetary Fund spring meetings in Washington DC, said the amount is N50 billion per month and reaches N300bn, with $800m World Bank loan to fund the project.

Zainab also said the $800m has been negotiated and approved by the Federal Executive Council and is now before the parliament for approval.