President Bola Ahmed Tinubu has revealed that 12 million families will receive N8,000 each over a span of six months to alleviate the hardships faced by Nigerians following the removal of subsidies.
During Tuesday’s plenary, Speaker Tajudeen Abbas read a letter from Tinubu addressed to the House of Representatives.
The letter sought approval for additional financing for the national social safety net program, which has been expanded by the National Assembly.
Tinubu emphasized that this support was aimed at assisting impoverished and vulnerable Nigerians in meeting their basic needs.
He said that the direct transfers to be deployed will have a positive multiplier effect, benefitting approximately 60 million individuals.
In order to ensure the transparency and integrity of the process, Tinubu explained that the funds would be digitally transferred directly into the beneficiaries’ accounts.