12 Million Families To Get N8,000 Monthly As Petrol Subsidy Removal Palliatives

Twelve million families are to get N8,000 monthly over a period of six months, as part of palliatives for the petrol subsidy removal.

The fund for the palliatives which is expected to have multiple effects on 60 million individuals, will come from the $800 million world bank loan for petrol subsidy palliatives, and N500 billion taken from the amended 2022 supplementary bill.

The senate passed the $800 million world bank loan requested by president Tinubu to scale up the national social safety net, during the Thursday plenary.

In the request, Tinubu said the World Bank loan would be used to expand the coverage of shock-responsive safety net support for all and vulnerable Nigerians.

Also on Thursday, the house of representatives approved N500 billion to be taken from the 2022 supplementary act bill.

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The approval followed the report of the house supply committee after the request was subjected to a debate.

Lawmakers commend Tinubu for being a listening president, but  urged him to ensure proper utilization of the N500 billion palliatives for the targeted individuals.

Meanwhile:

The National Association of Nigerian Students (NANS) called for a reduction in tuition by tertiary institutions.

NANS said that would help to cushion the effects of petrol subsidy removal on students.

The students’ body also said that as laudable as the Students Loan Scheme signed into law by Tinubu was, it should not be a springboard for a hike in tuition.

NANS Coordinator, North Central Zone, Shedrack Anzaku, said this in Abuja yesterday.

He said that the association frowns at the development where a lot of public tertiary institutions have decided to increase school fees without considering the hardship and difficulties Nigerians are going through.