President Bola Tinubu has disclosed a plan by the Federal Government (FG) to transfer N8,000 to 12 million poor households in Nigeria for a period of six months.
This was contained in a letter the President wrote to the House of Representatives regarding the 800 million dollars loan request of the Buhari administration for the social safety net programme.
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The president is asking for approval of the House to secure the loan.
According to the President, the money transfer to poor households would have a multiplier effect on about 60 million individuals.
For credibility, the President said the money will be transferred to the households digitally.
Meanwhile, the House of Representatives has amended the 2022 supplementary appropriation act and approved President Bola Tinubu’s request to source for 500 billion naira from the approved budget to provide palliatives for Nigerians following the removal of petrol subsidy.
This amendment comes 24 hours after the president’s request and was speedily taken through 2nd and 3rd reading which according to the lawmakers was in line with the need to urgently cushion the effect of the removal of subsidy.
The lawmakers urged the president to ensure judicious use of the funds as requested.
