President Bola Tinubu has said N8,000 will be paid to 12 million Nigerian families for six months to cushion the effects of petrol subsidy removal. THE GUARDIAN reports.Information Guide Nigeria
Other Top Stories:
- Air Peace Commences Lome Flight Services July 28, Commissions Special Antigua Flights
- Lagos Governor Congratulates Soyinka At 89
- JUST IN: Judge orders DSS to arraign Emefiele in one week
- NLC Frown At Tinubu’s Planned N500billion Subsidy Palliative, Demands Salary Increase
Tinubu explained that “Under the conditional cash transfer window of the programme, the federal government of Nigeria will transfer the sum of 8000 a month to 12 million poor and low-income households for a period of six months with a multiplying effect on about 60 million individuals.”JAMB Result
The World Bank facility, Tinubu said, would be utilised to scale up the National Social Safety Net Programme.
“In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries accounts and mobile wallets,” Tinubu said.
“It is expected that the programme will stimulate economic activities in the informal sector and improve nutrition, health, and education outcomes for beneficial households.
“Giving the above, I wish to invite the senate to kindly grant approvals for additional loan facilities USD800milliom to be secured from world bank for the national social safety net programme.”
Tinubu on Wednesday asked the House of Representatives to amend the 2022 Supplementary Appropriations Act to provide N500 billion to fund palliative measures against the impact of fuel subsidy removal.NYSC Portal
Tinubu is seeking to extract N500 billion from the N819,536,937,813 supplementary budget.
