President Bola Ahmed Tinubu has said 12m families will get N8, 000 over a period of six months to ameliorate the hardships faced by Nigerians as a result of subsidy removal.
In a letter to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Tuesday, Tinubu said it was support to enable poor and vulnerable Nigerians cope with the cost of meeting basic needs.
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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, he said digital transfers would be made directly to beneficiaries accounts.
House of representatives approve Tinubu’s N500bn request for palliatives.
The House of Representatives has approved the request of President Bola Tinubu for an amendment to the 2022 appropriation act.
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The approval followed Tinubu’s request for N500 billion for palliatives to Nigerians in order to reduce the hardship caused by subsidy removal.
The amendment passed the first, second, and third readings during plenary on Wednesday.
However, the House on Thursday approved the President’s request after members of the House made contributions.
The president said he hoped the lawmakers will consider his request “expeditiously”.
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The letter reads, “I write to the house of reps to approve the amendment of the 2022 Supplementary Appropriation Act in accordance to the attached,”
The request has become necessarily important to, among other things, source for funds necessary to provide palliative to mitigate the effect of the removal of fuel subsidy on Nigerians.
“Thus, the sum of N500 billion only has been extracted from the 2022 Supplementary Act of N819,536,937,815 for the provision of palliative to cushion the effect of petrol subsidy removal.”
In December, the national assembly passed a supplementary budget of N819 billion for the 2022 fiscal year.
At the time, the legislature also extended the implementation of the 2022 budget till March 31, 2023.
In May 2023, the national assembly passed the amendment to the 2022 supplementary budget to extend the implementation of the capital components to December 2023.
