12m Nigerian families to get N8,000 for 6 months – Tinubu write House

…As Reps approve N500bn Palliatives request

By Christiana Ekpa

President Bola Tinubu has said 12 million families will get N8,000 over a period of six months to lessen the hardships faced by Nigerians as a result of subsidy removal.

In a letter to the House of Representatives read by the Speaker Tajudeen Abbas during plenary on Tuesday, Tinubu said the money was support for poor and vulnerable Nigerians and to help them cope with the cost of meeting basic needs.

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.

Part of the Letter reads: It is with pleasure that I refer the above matter to you. Please note that the Federal Executive Council led by President Muhammadu Buhari, GCFR (“FEC”) approved an additional loan facility to the tune of USD800,000,000 (Eight Hundred Million United States Dollars) to be secured from the World Bank for the National Social Safety Net Programme (the “Programme”) (Copy of FEC Extract attached).

“You may also wish to note thät the purpose of the facility is to expand coverage of shock responsive safety net support for poor and vulnerable Nigerians and to help them cope with the cost of meeting basic needs.

“You may further wish to note that under the conditional cash transfer window of the Programme, the Federal Government of Nigeria will transfer the sum of N8,000 per month to 12,000,000 (twelve million) poor and low income households for a period of 6 (six) months with a multiplier effect on about 60,000,000 (sixty million) individuals. In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ account and mobile wallets.

“It is expected that the Programme will stimulate economic activity in the informal sector and improve nutrition, health and education outcomes for beneficiary households.

“Given the above, I wish to invite the House of Representatives to kindly grant approval for the additional loan facility of USD800,000,000.00 (Eight. Hundred Million United States Dollars) to be secured from the World Bank for the National Social Safety Net Programme.

“While hoping that this submission will receive expeditious consideration by the House of Representatives, please accept, Rt. Honourable Speaker, the assurances of my highest regards” he said

In a related development, The House of Representatives has approved the request of President Tinubu for an amendment to the 2022 appropriation act to allow the government take N500 billion for palliatives to cushion the pains of subsidy removal on Nigerians.

The House at the Committee of supply approved the President’s request after deliberation by members of the House who called for proper utilization of the funds for the purpose of what it was approved for.

Leader of the House, Julius Ihonvbare who presented the request to members for debate said the country now have a President who listens to the yearnings of the people.

The Minority Leader Kingsley Chinda, however said the proper yardstick to measure a government is when the government is responsible and responsive.

He said approving the palliatives is not the only thing, but that the House should put in place mechanism to monitor the use of the palliatives and ensuring that the purpose for which it is meant for is achieved.