President Bola Tinubu announced on Tuesday that his administration will reconsider its initial plan to provide monthly cash grants of N8,000 to 12 million households for a period of six months, as part of efforts to alleviate the hardships caused by the removal of fuel subsidies. The decision to review the plan came after facing public criticism, particularly from organized labor, who deemed the cash transfer insufficient to address the needs of vulnerable Nigerians.
In response to the public’s concerns, the President directed the immediate review of the conditional cash transfer program to cater better to the most vulnerable households. The new directive acknowledges the need to take into account the views expressed by Nigerians.
Earlier, the Senate had approved the President’s request to secure an $800 million loan from the World Bank. The loan will be used to support the National Safety Net program, providing welfare support to vulnerable and poor households in the country. However, the idea of transferring N8,000 monthly to 12 million low-income households for six months received criticism from organized labor and economists.
In his defense, President Tinubu clarified that the cash transfer program was just one part of the government’s relief package for Nigerians. The administration has also planned the immediate release of fertilizers and grains to approximately 50 million farmers and households across all states and the Federal Capital Territory.
President Tinubu emphasized that the government is committed to providing a comprehensive range of reliefs to help Nigerians cope with the subsidy removal. He assured that the approved N500 billion from the National Assembly for cushioning the impact of the subsidy removal would be used judiciously to benefit Nigerians regardless of their ethnic, religious, or political affiliations.
The President’s focus remains on prioritizing the welfare of Nigerians, as demonstrated by the signing of four Executive Orders to cancel some classes of taxes and suspend the implementation dates of others. His willingness to listen to the citizenry and make adjustments accordingly highlights his dedication to serving the people’s interests.
