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Tinubu plans N8,000 six months palliative transfer to 12 million poor households
President Bola Tinubu, in a letter to the House of Representatives seeking approval of the $800 million loan request of former President Muhammadu Buhari for social safety net programme of the federal government, revealed his plan to transfer N8,000 to 12 million poor households in Nigeria for a period of six months.
The President stated that the money transfer to poor households would be done digitally, noting that it will have a multiplier effect on about 60 million individuals.
The 12,000,000 poverty or 60 million target falls below the 130 million multidimensional poor Nigerians as revealed by the NBS. Besides, the N8,000 will be ‘swallowed’ by the high inflation rate in the country even before disbursement.
Meanwhile, the Organised Labour has rejected the planned subsidy palliatives by President Tinubu, but demanding N300,000 Minimum Wage from the federal government.
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