President Bola Ahmed Tinubu has said 12 million families will get N8, 000 over a period of six months to help cushion the economic hardship being faced by all Nigerians following the removal of fuel subsidy.
The Nation reports that the President stated this in a letter addressed to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Tuesday, July 11.
President Tinubu said the money will enable poor and vulnerable Nigerians cope with the cost of meeting basic needs.
The letter was for approval of additional financing for the national social safety net programme scaled up by the National Assembly.
The President 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 beneficiaries accounts.