In response to mounting concerns from economists, opinion leaders, and opposition figures regarding the proposed N500 billion palliative aimed at mitigating the impact of subsidy removal on impoverished Nigerians, President Bola Tinubu has taken the initiative to call for a comprehensive reassessment of the proposed intervention plan.
Mr Dele Alake, the Special Adviser to the President on Special Duties, Communications, and Strategy, conveyed this development through an official press statement released Tuesday, July 18th, 2023.
Recall that the National Assembly had previously given unanimous approval to the President’s request for the N500 billion intervention program, aimed at providing relief for a six-month period following the subsidy removal.
The press statement also outlined the Federal Government’s commitment to supporting approximately 50 million farmers by supplying them with essential grains and fertilisers.
Mr Alake emphasized that President Tinubu places paramount importance on the welfare and security of Nigerians, evident in the Renewed Hope Agenda of his government. Consequently, the President is committed to fulfilling his promise to the people.
Addressing concerns over the N8,000 conditional cash transfer program, designed to bring relief to vulnerable households, Mr Alake stated that it will undergo immediate review, as it aligns with the President’s promise to listen to the voices of Nigerians. The administration is keen on taking into account the views expressed by citizens on this matter.
Furthermore, he disclosed that the government intends to unveil the entirety of its palliative packages to the Nigerian public. Immediate releases of fertilizers and grains are planned, benefitting approximately 50 million farmers and households across all 36 states and the Federal Capital Territory (FCT).
Mr Alake assured Nigerians that the N500 billion approved by the parliament to cushion the effects of the subsidy removal will be utilized judiciously. This relief initiative, he added, will be accessible to all Nigerians, irrespective of their ethnic, religious, or political affiliation.