In a recent announcement, President Bola Tinubu revealed the Federal Government’s plan to provide a monthly transfer of N8,000 to 12 million impoverished households across Nigeria. The initiative, which aims to support those with low incomes, is set to run for a period of six months. President Tinubu highlighted that the positive impact of this financial assistance would extend to approximately 60 million individuals, fostering a multiplier effect on the nation’s economy.
President Tinubu communicated this proposal through a letter addressed to the House of Representatives, which pertained to the Buhari administration’s request for an $800 million loan intended for the social safety net program. Seeking approval from the House, the President emphasized that the funds would be digitally transferred to the designated households, ensuring transparency and credibility.
This notable initiative by the Federal Government not only seeks to alleviate the financial burden on millions of struggling households but also demonstrates a commitment to empowering vulnerable communities and fostering economic stability. With the potential to positively impact various sectors of society, this welfare program holds the promise of improving the lives of countless Nigerians in need.
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