Nigeria is planning to give cash handouts to the poor, that may cost the government 2.4 trillion naira a year ($5.8 billion) in a bid to replace fuel subsides. The government will give 5,000 naira each to as many as 40 million people every month, beginning from July when fuel subsidies end. A new petroleum law compels the government to allow market forces determine gasoline prices. The cash transfers will happen over a period of six to 12 months, Finance Minister Zainab Ahmed, said Thursday. That’s when Nigerians will vote to elect at least 30 state governors and a successor to President Muhammadu Buhari. Cutting ... (full story)