Obtain a N8,000 household transfer from the F.Govt.
After the federal government removes gasoline subsidies, do you want to be one of the 12 million households that obtain an N8,000 household transfer from the F.Govt.? The president stated that the funds would be sent to the homes digitally, according to “the channels TV for credibility.”
The Federal Government of Nigeria plans to distribute N8,000 to 12 million low-income households over six months, according to President Bola Tinubu. This was said in a letter that the President delivered to the House of Representatives about the Buhari administration’s request for a loan of $801 million for the social safety net program.
To obtain the loan, the president is requesting permission from the House. The president claimed that the funds given to low-income households would benefit roughly 60 million people multiplier-wise. Shortly before he left office, President Muhammadu Buhari wrote to the Senate to request permission to borrow $800 million from the World Bank to offset the impact of the elimination of subsidies.
According to Zainab Ahmed, the former minister of finance, budget, and national planning, the money was awarded in anticipation of the scheduled elimination of subsidies in June 2023. President Tinubu promptly announced the elimination of the gasoline subsidy in his inaugural speech on May 29.