News
12 million Nigerian families to get N8,000 for six months – Tinubu
President Bola Ahmed Tinubu has announced that 12 million families in the country will receive N8, 000 over a period of six months to help cushion the economic hardship being faced by all Nigerians following the removal of fuel subsidy.
According to a report by The Nation, the President stated this in a letter addressed to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Tuesday, July 11.
It was revealed by the President that the money will enable poor and vulnerable Nigerians cope with the cost of meeting basic needs.
Read Also: Dialogue with bandits like Yar’Adua did to Niger Delta militants, Yerima to Tinubu
The letter was for approval of additional financing for the national social safety net programme scaled up by the National Assembly.
The President 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.