President Bola Ahmed Tinubu has announced that 12 million families in Nigeria will receive N8,000 over a span of six months to alleviate the hardships caused by the recent removal of fuel subsidy in the country.
In a letter read by the Speaker of the House of Representatives, Tinubu stated that the financial support aims to assist poor and vulnerable Nigerians in meeting their basic needs.
The funding is part of the national social safety net program, which has been scaled up by the National Assembly and is expected to benefit approximately 60 million individuals.
To ensure transparency, digital transfers will be directly made to the beneficiaries’ accounts. In addition, the House of Representatives has approved President Tinubu’s request for an amendment to the 2022 appropriation act, allowing the government to access N500 billion for palliatives to mitigate the impact of subsidy removal on Nigerians.
Members of the House emphasized the need for proper utilization and monitoring of the funds to ensure they serve their intended purpose.