In line with the commitment of President Bola Ahmed Tinubu's administration to prioritise the welfare and security of Nigerians, the government has announced its intention to review the ₦8,000 monthly conditional cash transfer program.
This program was designed to provide support to vulnerable households affected by the recent decision to remove petrol subsidies, which has caused some discomfort among Nigerians.
In a statement issued on Tuesday, July 18, 2023, the Special Adviser to President Bola Ahmed Tinubu's administration, Dele Alake, reiterated the administration's commitment to prioritise the welfare and security of Nigerians, emphasising that the program will be reviewed in light of public feedback.
President Tinubu's administration believes in the principle of "when there is prohibition, there must be provision." Consequently, following the cessation of the subsidy, the government has introduced a comprehensive range of reliefs aimed at alleviating the impact on citizens.
However, amidst widespread reports and discussions on the proposed cash transfer program in both conventional and new media platforms, certain concerns and misconceptions have arisen, drawing criticism from some quarters. In response to the feedback received from Nigerians, the President has decided to review the ₦8,000 conditional cash transfer initiative immediately.
President Tinubu has directed the unveiling of the entire palliative package to the public. It is essential to recognise that the cash transfer is just one component of the comprehensive relief measures initiated by the government.
In addition to the review of the conditional cash transfer, President Tinubu has ordered the immediate release of fertilizers and grains to approximately 50 million farmers and households across the 36 states and the Federal Capital Territory (FCT). These actions are part of the broader effort to alleviate the burdens faced by the citizens following the subsidy removal.
The President assures Nigerians that the ₦500 billion approved by the parliament to mitigate the impact of the subsidy's end will be utilised judiciously. Emphasising his commitment to an inclusive and equitable approach, President Tinubu declares that the beneficiaries of these relief measures will be citizens regardless of their ethnic, religious, or political affiliations.
Notably, in response to concerns from the business community regarding excessive taxes, the President signed four Executive Orders, eliminating certain classes of taxes and suspending the implementation dates of others. Furthermore, a Tax Reform/Fiscal Policy Committee has been established to recommend measures that will create a conducive fiscal environment for businesses and remove barriers to economic growth.