President Bola Tinubu has requested approval of the House of Representatives for additional $800 million for the national social safety net programme scaled up by the National Assembly.
The request was contained in a letter read by the Speaker Tajudeen Abbas during plenary on Thursday.
The Federal Executive Council led by former President Muhammadu Buhari had requested an additional loan to be secured from the World Bank for the national safety net programme.
The purpose of the facility is to expand responsive safety net support for poor and vulnerable Nigerians and to help them cope with the cost of meeting basic needs.
The letter reads: “You may further wish to know that under the conditional cash transfer window, the federal government of Nigeria would transfer the sum of N8000 per month to 12 million poor and low income households for a period of six months with the multiplier effect on about 60 million individuals.
“In order to guarantee the credibility of the process, digital transfers would be made directly to beneficiaries accounts”.
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