President Bola Tinubu has disclosed a plan by the Federal Government to transfer N8,000 to 12 million poor households in Nigeria for a period of six months.
This was contained in a letter the President wrote to the House of Representatives regarding the 800 million dollars loan request of the Buhari administration for the social safety net programme.
In the letter, the president explained that the loan will go towards scaling up the national social safety net programme, noting that an N8,000 monthly stipend would be transferred directly to the beneficiaries accounts. The president is asking for approval of the House to secure the loan.
According to the President, the money transfer to poor households would have a multiplier effect on about 60 million individuals.