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Subsidy Removal vs Economic Reality: President Tinubu orders review of proposed N8,000 planned palliatives.

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Destiny Young
Destiny Younghttp://linktr.ee/youngdestinya
Destiny Young is a highly credentialed information technology professional with over 13 years of industry experience. An HND/BSc (Hons) Computer Science graduate. He holds a Master of Technology degree in Information Technology from the prestigious University of South Africa (UNISA). He is a Distinction-grade MBA alumnus of Nexford University, Washington, DC, where he also obtained a First-class MSc degree in Digital Transformation. He is currently pursuing MSc in Cybersecurity. His professional development direction is in Cybersecurity, Digital Transformation, and Business Intelligence. He is a member of the British Computer Society (BCS), the Chartered Institute of Administration of Nigeria (CIA), the Nigeria Computer Society (NCS), etc.

President Bola Tinubu has directed an immediate review of the N8,000 conditional cash transfer programmed initially proposed to ease the harsh effects of the fuel subsidy removal.


President Tinubu has also directed the immediate release of fertilisers and grains to about 50 million farmers and households respectively across the country, just as he has directed that the entire government’s palliative and relief package meant to ease the current harsh conditions be unveiled to Nigerians.

The President gave the directives in response to public reactions and feedback to the administration’s efforts at ameliorating the harsh conditions that have trailed recent attempts at saving the economy from total collapse, one of which was putting an end to petrol subsidy.

The President’s directives were contained in a statement issued Tuesday evening by his Special Adviser on Special Duties, Communication, and Strategy, Mr Dele Alake, who also explained that Tinubu took the decision because he had promised to always listen and dialogue with Nigerians.

According to Alake, though the President had purposed to use the monthly N8,000 conditional cash transfer to 12 million families in the desperately poor category to ease the harsh realities for that category, there are other categories of plans and action plans to reach other categories.

He however noted that to defeat negative perspectives that some naysayers had sold to the public on the administration’s plan to use multilayers of programme to ease the harsh realities, the President directed a review of the conditional cash transfer plan immediately, just as he directed the unveiling of other packages to the public.

“You will agree with me that it has become part of the culture of President Bola Ahmed Tinubu administration to constantly dialogue with Nigerians who voted him into office. The President covenanted with Nigerians that their welfare and security will be topmost in the Renewed Hope Agenda of his government.

“In the last few days, the conventional and new media platforms have become awash with stories of the government intending to embark on conditional cash transfer to vulnerable households mostly affected by the painful but necessary decision to remove subsidy from petrol.

“The story has been widely reported that the Federal Government is proposing to give 12 million households from the poorest of the poor N8,000 monthly for a period of six months as government palliative to reduce the discomfort being experienced by Nigerians consequent upon subsidy removal.

“A lot of ill-informed imputations have been read into the programme by not a few naysayers. The administration believes in the maxim that when there is prohibition, there must be provision. Since subsidy, the hydra-headed monster threatening to kill the economy, has been stopped, government has emplaced a broad spectrum of reliefs to bring help to Nigerians.

“While it should be noted that cash programme is not the only item in the whole gamut of relief package of President Bola Ahmed Tinubu, as a listening leader who has vowed to always put Nigerians at the heart of his policy and programme, the President has directed as follows:-

“1. 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.

“2. That the whole gamut of palliative package of government be unveiled to Nigerians.

“3. Immediate release of fertilisers and grains to approximately 50 million farmers and households respectively in all the 36 states and the FCT”, the statement said.

The Presidential spokesman further said President Tinubu has given the guarantee that he would always prioritize the wellbeing of Nigerians, adding that this was proven in his recent decision to sign four Executive Orders, aimed at lifting some tax burdens.

He added that the President would be guided by his people-focused vow in deploying the recently approved N500 billion for palliatives, ensuring that it is deployed in the interest of all Nigerians, ethnic and religious tendencies notwithstanding.

Destiny Young
Destiny Young is a highly credentialed information technology professional with over 13 years of industry experience. An HND/BSc (Hons) Computer Science graduate. He holds a Master of Technology degree in Information Technology from the prestigious University of South Africa (UNISA). He is a Distinction-grade MBA alumnus of Nexford University, Washington, DC, where he also obtained a First-class MSc degree in Digital Transformation. He is currently pursuing MSc in Cybersecurity. His professional development direction is in Cybersecurity, Digital Transformation, and Business Intelligence. He is a member of the British Computer Society (BCS), the Chartered Institute of Administration of Nigeria (CIA), the Nigeria Computer Society (NCS), etc.
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