President Bola Ahmed Tinubu has disclosed that about 12 million poor households will get a cash transfer of N8,000 over six months to ameliorate the economic hardships faced by Nigerians as a result of the fuel subsidy removal.
The president had written to the House of Representatives regarding the 800 million dollar loan request of the Buhari administration for the national social safety net program.
In a letter read by Speaker Tajudeen Abbas during plenary, Tinubu said it was designed to enable indigent and vulnerable Nigerians to cope with the cost of meeting basic needs.
According to the President, this would have a multiplier effect on about 60 million individuals and would be directly transferred to the beneficiaries electronically to ascertain the credibility of the process.
