In response to widespread public criticism and concern, President Bola Tinubu has ordered the immediate review of the proposed N8,000 conditional cash transfer to Nigerians, meant to cushion the effect of the petrol subsidy removal.
The president had asked the national assembly to approve a $800 million loan to ameliorate the hardship induced by the removal of petrol subsidy.
Tinubu said 12 million households would receive N8,000 monthly from the loan that is being sourced from the World Bank.
Also, another N500 billion has been appropriated by the national assembly in an amendment to the 2022 supplementary budget to mitigate hardship as a result of the subsidy cuts.
Presidential spokesman, Dele Alake in a statement on Tuesday said the President’s commitment to dialogue with Nigerians and prioritise their welfare and security under the Renewed Hope Agenda has prompted this swift action.
He said recognising the importance of addressing public sentiment and fostering inclusivity in policy-making, President Tinubu has heeded the voices of the people and instructed an immediate review of the cash transfer programme.
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In addition to the revision of the cash transfer programme, the President has directed the unveiling of the entire gamut of government palliative packages to Nigerians.
Alake said, “You will agree with me that it has become part of the culture of President Bola Ahmed Tinubu administration to constantly dialogue with Nigerians who voted him into office. The President covenanted with Nigerians that their welfare and security will be topmost in the Renewed Hope Agenda of his government.
“In the last few days, the conventional and new media platforms have become awash with stories of the government intending to embark on conditional cash transfer to vulnerable households mostly affected by the painful but necessary decision to remove subsidy from petrol.
“The story has been widely reported that the Federal Government is proposing to give 12 million households from the poorest of the poor N8,000 monthly for a period of six months as government palliative to reduce the discomfort being experienced by Nigerians consequent upon subsidy removal.
“A lot of ill-informed imputations have been read into the programme by not a few naysayers. The administration believes in the maxim that when there is prohibition, there must be provision.
Since subsidy, the hydra-headed monster threatening to kill the economy, has been stopped, government has emplaced a broad spectrum of reliefs to bring help to Nigerians.
“While it should be noted that cash programme is not the only item in the whole gamut of relief package of President Bola Ahmed Tinubu, as a listening leader who has vowed to always put Nigerians at the heart of his policy and programme, the President has directed as follows:
“That the N8,000 conditional cash transfer programme envisaged to bring succour to most vulnerable households be reviewed immediately. This is in deference to the views expressed by Nigerians against it.
“That the whole gamut of palliative package of government be unveiled to Nigerians.
“Immediate release of fertilisers and grains to approximately 50 million farmers and households respectively in all the 36 states and the FCT.”
Alake said the President further assures Nigerians that the N500bn approved by parliament to cushion the pain occasioned by the end of subsidy regime will be judiciously utilised.
According to him, the beneficiaries of the reliefs shall be Nigerians irrespective of their ethnic, religious or political affiliation.
He said President Bola Tinubu has promised to always prioritise the wellbeing of Nigerians and he is irrevocably committed to the vow. A number of decisions taken so far by this administration have buttressed this stance.
“You will recall that the President took a similar decision after listening to complaints from the business community/stakeholders about burdensome taxes, particularly multiplicity of taxes they are made to experience.
“This warranted the signing of four (4) Executive Orders cancelling some classes of taxes, while suspending the implementation dates of others.
“In addition, the President has also set up a Tax Reform/Fiscal Policy Committee to bring up recommendations that will engender a wholesome fiscal environment for the country and remove anti-business barriers,” he said.
He assured Nigerians that President Tinubu will continue to be a listening leader whose ears will not be dull to the views expressed by the citizenry.
“The President believes government exists to cater for the interest of the people and he has demonstrated this so clearly.”
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