Guyana Oil Wealth

President of Guyana, Irfaan Ali

Has announced that every Guyanese citizen aged 18 and older as of January 1, 2024, will receive a $100,000 cash grant

Guyana is at a crossroads in its history —a small South American nation with a population of over 800,000 people, experienced a significant oil and gas boom that transformed it into the world’s fastest-growing economy.

With its 11.6 billion barrels of oil reserves and plans to boost production to 1.3 million barrels per day by 2027, Guyana ranks among the top non-OPEC+ producers poised to drive global supply growth.

“As a responsible Government, as a Government that understands that we have a responsibility that all feel included and part of the system, it is important that we build a system that is robust in delivering this grant and the simplest and most verifiable way is the $100,000 for every Guyanese 18 and above with the qualifying date of the 1st January 2024, that is achieving the age of 18 at the 1st January 2024”, President Ali reiterated. Instead of the one-off cash grant of $200,000 for every household as previously announced.

The simple means of verification is the possession of a national valid identification card, a Guyanese birth certificate, and/or a valid Guyanese passport.

The President also announced that in addition to abolishing the tuition fees for the University of Guyana from January 2025, the Government will also be abolishing the tuition fees at all Government technical and vocational schools.

The decision has found favor with many Guyana citizens, based on the responses on social media.

Empowering Guyanese. When citizens elect someone responsible who cares about them.

Greater financial empowerment for households: The policy represents a progressive step forward by recognizing the unique financial needs of Guyanese individuals, ensuring that each person has the financial flexibility to address their personal needs.

This policy respects individuals and also provides support for senior citizens and vulnerable groups.

The new policy ensures that elderly individuals living on fixed incomes or relying on pensions will receive the $100,000 cash grant, providing much-needed financial relief. This additional income can help cover essential costs such as medical expenses, utilities, and groceries, offering our senior citizens more comfort and security in their daily lives.

This action exemplifies the President's unwavering commitment to building a thriving and just Guyana, ensuring that everyone has the opportunity to succeed and contribute to the nation's overall economic growth.

President of Guyana, Dr. Irfaan Ali

The announcement by President Dr. Irfaan Ali during a special sitting of Parliament, marked his second address to Parliament since taking office. The cash grant is part of a series of measures that the President says will form a blueprint to propel Guyana forward and safeguard the quality of life. All public sector workers will earn no less than $100,000 GYD monthly by the end of 2025. Additionally, food security is a priority for Guyana's government, and efforts are underway to create a digital economy for the country.

Angela Brooks for YAME