President Bola Ahmed Tinubu has said 12m families 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 support to enable poor and vulnerable Nigerians to cope with the cost of meeting basic needs.
The letter was for approval of additional financing for the national social safety net program 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 beneficiary’s accounts.