By Adedapo Adesanya
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 immediate past administration of Mr Muhammadu Buhari for the social safety net programme.
The President is asking for approval from 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 would be transferred to the households digitally.
Business Post also understands that the House of Representatives has approved the N500 billion requested by President Tinubu for the provision of palliatives to mitigate the impact of petroleum subsidy removal on Nigerians.
The green chamber, on Thursday, amended the 2022 Supplementary Appropriations Act as requested by the President.
Mr Tinubu had, in a letter on Wednesday, asked the National Assembly to amend the 2022 Supplementary Appropriations Act by extracting N500 billion to provide palliatives.
The lower chamber considered the amendment bill and passed it on Thursday.
Modupe Gbadeyanka