President Bola Ahmed Tinubu has said that about 12 million families will get N8,000 over a period of six months to ameliorate the hardships faced by Nigerians as a result of the fuel subsidy removal.
In a letter addressed to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Thursday, July 13, Tinubu said the funds will support poor and vulnerable Nigerians to cope with the attendant economic hardship.
The letter was for approval of additional financing for the national social safety net programme scaled up by the National Assembly.
He said this would have a multiplier effect on about 60 million individuals.
In order to guarantee the credibility of the process, the president noted that digital transfers would be made directly to beneficiaries’ bank accounts.
Politics Nigeria recalls that the president had asked the House of Representatives to amend the 2022 Supplementary Appropriations Act to provide N500 billion to fund palliative measures against the impact of fuel subsidy removal.
The request was contained in a letter read by Speaker Abbas during the plenary on Wednesday, July 12.
