In one of its efforts to dampen further hardship occasioned by fuel subsidy removal, the federal government has announced its plan to pay 12m indigent Nigerians N8,000 each.
The scheme aimed at palliating untold hardships arising from the cancellation of the oil subsidy regime, would be done for 6 months.
It formed part of request President Bola Ahmed Tinubu made in his letter to the National Assembly in which he sought approval to spend N500 billion on palliatives.
The portion of the said subject read in part, “You may also wish to note that 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 million poor and low-income households for six months with a multiplier effect on about 60 million individuals.
“In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ accounts 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.”
