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President Tinubu has announced that 12 million families will receive N8,000 each over a period of six months, in order to help them cope with the economic hardship caused by the removal of fuel subsidy.
Tinubu made this announcement in a letter to the House of Representatives, which was read by Speaker Tajudeen Abbas during plenary on Tuesday, July 11.
He said that the money would be used to help poor and vulnerable Nigerians meet their basic needs.
The President via the letter was seeking approval for additional financing for the national social safety net programme, which has been scaled up by the National Assembly.
According to the letter, the digital transfers would be made directly to beneficiaries' accounts, in order to guarantee the credibility of the process.
The total amount of money that will be distributed is N576 billion. This is equivalent to approximately US$1.5 billion.
Some Nigerians welcomed the development adding that it will provide the much-needed relief to those who are struggling to make ends meet.
However, others have criticized the government for not doing enough to help people who are already struggling to afford basic necessities.
It remains to be seen how effective the programme will be in alleviating the economic hardship faced by Nigerians. However, it is a step in the right direction, and it is hoped that it will provide some much-needed relief to those who are most in need.thumb_upthumb_downtuneshareGoogle it
