Economy

Subsidy Removal Palliative: FG to transfer N8,000 to 12 million poor Nigerians for 6 months

President Bola Tinubu has disclosed a plan by the Federal Government to transfer N8,000 to 12 million poor households in Nigeria for a period of six months.

 

This was contained in a letter the President wrote to the House of Representatives regarding the $800 million loan request of the Buhari administration for the social safety net programme.

 

The President is asking for approval of the House to secure the loan.

 

According to the President, the money transfer to poor households would have a multiplier effect on about 60 million individuals.

 

For credibility, the President said the money will be transferred to the households digitally.

 

 

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