President Bola Ahmed Tinubu Announces Financial Aid For 12 Million Families To Mitigate Economic Hardship

In a bid to alleviate the economic challenges faced by Nigerians following the removal of fuel subsidy, President Bola Ahmed Tinubu has announced that 12 million families will receive N8,000 each over a span of six months.

During the plenary session on Tuesday, July 11, Speaker Tajudeen Abbas read a letter from President Tinubu addressed to the House of Representatives, outlining the initiative. The President emphasized that this financial assistance aims to support poor and vulnerable Nigerians in meeting their basic needs.

The letter also sought approval for additional funding to scale up the national social safety net program, which would have a positive impact on approximately 60 million individuals. To ensure the transparency and integrity of the process, President Tinubu stated that digital transfers would be made directly to the beneficiaries’ accounts.

This initiative reflects the government’s commitment to providing immediate relief to those most affected by the economic challenges and demonstrates a proactive approach to address the consequences of fuel subsidy removal.