… As Reps Approve President’s Request To Source N500bn For Palliatives
Amid inflationary pressures, President Bola Ahmed Tinubu has rolled out a plan to pay N8,000 over a period of six months to 12 million families to ameliorate the hardships faced by Nigerians as a result of subsidy removal.
This was disclosed in a letter the present sent to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Tuesday, July 11, 2023.
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.
Consequently, the House of Representatives has amended the 2022 supplementary appropriation act and approved President Bola Tinubu’s request to source for 500 billion naira from the approved budget to provide palliatives for Nigerians following the removal of petrol subsidy.
This amendment comes 24 hours after the president’s request and was speedily taken through 2nd and 3rd reading which according to the lawmakers was in line with the need to urgently cushion the effect of the removal of subsidy.
The lawmakers urged the president to ensure judicious use of the funds as requested.