BREAKING: Tinubu Orders Review Of N8,000 Cash Transfer

By - LagosCityReporters 18 July 2023 Comments (0) 2 Mins Read

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President Bola Tinubu has ordered a review of the conditional cash transfer of N8,000 to the poorest of the poor as part of palliatives to cushion the effects of the removal of subsidy on Petrol.

Tinubu’s directive is contained in a statement by his Special Adviser on Special Duties, communications and Strategy, Dele Alake.

Part of the statement reads: “That the N8,000 conditional cash transfer programmed envisaged to bring succour to most vulnerable households be reviewed immediately. This is in deference to the views expressed by Nigerians against it.”

Tinubu also directed in the statement that the whole gamut of the Palliative package of government be unveiled to Nigeria and immediate release of fertilizers and grains to farmers.

He said: “That the whole gamut of palliative package of government be unveiled to Nigerians. Immediate release of fertilizers and grains to approximately 50 million farmers and households respectively in all the 36 states and the FCT.”

“The President further assures Nigerians that the N500 billion approved by parliament to cushion the pain occasioned by the end of subsidy regime will be judiciously utilized. The beneficiaries of the reliefs shall be Nigerians irrespective of their ethnic, religious or political affiliation.” Alake further stated.

President Bola Tinubu has promised to always prioritize 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.