President Bola Ahmed Tinubu has announced that about 12 million households will be paid N8,000 for six months to cushion the hardships caused y the fuel subsidy removal.
Tinubu, in a letter to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Tuesday, 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.
For credibility, he said digital transfers would be made directly to beneficiaries’ accounts.