The Federal Government has scrapped plans to distribute monthly cash of N8,000 to 12 million households as part of efforts to cushion the effects of the fuel subsidy removal, PODIUM REPORTERS can reliably report.

Sources in the Villa confirmed the reversal to this publication today, citing concerns over the ability of the cash distribution to meet the administration’s goal of supporting the poor in the country grappling with the resultant price spike following the termination of the corrupt subsidy regime.

Instead, the administration is set to increase the country’s minimum wage, a longstanding demand of Nigeria’s Labour Union. The increment is expected to jack up the earnings of millions of Nigerians and provide succour amid the palpable rise in the cost of living.

Additionally, the FG will also distribute key commodities targeted at the poor to offer relief and ensure their survival as the country confronts the expected shocks widely predicted to follow the termination of the subsidy regime which burdened the country’s finances and starved other important sectors such as health, education and infrastructure of required funds to grow and develop.

More details of the FG’s new plan to provide relief to poor Nigerians will follow.

Gondonu:
Corn-fused economic illiterate!

Omoawoke:
8k is useless

Floating of naira is the biggest mistake of this administration

Gondonu:
Corn-fused economic illiterate!

LegendHero:


Both floating of Naira and removal of subsidy is the best thing this administration has done.

LegendHero:


Both floating of Naira and removal of subsidy is the best worst thing this administration has done.

Omoawoke:


He should have left the naira for now

I agree with subsidy.. but you can't do the two at same time

LegendHero:


You can only rest the success or failure of the floating after the market stabilize.

For now it will go up and down in an erratic way. Give it some few months and we will find the true worth of the naira.

LegendHero:


Both floating of Naira and removal of subsidy is the best thing this administration has done.

Now Jagaban just need to present his ministers asap and deploy the neccessary programs to lift the burden currently on the citizens.

I’ve been hearing Subsidy is a scam, subsidy is bad, and etc since I grew of age and yet no president has been able to summon the courage to remove that completely. Tinubu did that in just 1 day in government.

The true test of Tinubu will now be how he is able to lift the burden on the citizens and we await those promised program to alleviate some of the burden.

LegendHero:
..We all condemned previous government for not removing subsidy and now that it is removed, we must face the harsh reality of the decision.....

Gondonu:
The same Tunubu stood against removal of the same subsidy in 2012. So what has changed

LegendHero:
I trust Podiumreporters, but I’m waiting on NTA to confirm this news too and it’s gonna be great.

Good that they listen to voice of reasoning. Spending that money on actual commodities to cushion the effect will be a better alternative.

Minimum wage increase still on track. Just hope they speed it up.

To people talking about the increase in petrol price, it hurts truly but that is the meaning of “Subsidy is Gone”. The market force control the price now.

We all condemned previous government for not removing subsidy and now that it is removed, we must face the harsh reality of the decision. FG should now spend that saved money on the Nigerian people so they can at least lift the burden small.

LegendHero:


Lol that’s 11 years ago. Why do you chose to live in the past?

Opposition party will always make move. how the president handle it is what makes the difference.

Labour union wanted to strike too but Tinubu negotiated with them at a speed of light time. Jonathan should have probably negotiated his way out too and silence the opposition.

Also, I think in 2023, it has gotten to a stage where even the masses themselves know that subsidy must go. So this is the first time that even NLC lost their mandate to effectively mobilize people genuinely to protest.

Within 3 month, if things don’t get better, people will come out to protest with or without NLC. Things getting better mean the neccessary burden alleviation, minimum wage increase, clear cut policy with realistic deadline and impact, and etc.