President Bola Ahmed Tinubu says about 12 million households will get N8,000 over a period of six months to ameliorate the hardships faced by Nigerians as a result of subsidy removal.
In a letter to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Tuesday, Tinubu said it was designed to enable indigent and vulnerable Nigerian people to cope with the cost of meeting basic needs.
The letter waiting 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 ascertain the credibility of the process, he said digital transfers would be made directly to beneficiaries’ accounts.