EXCLUSIVE: FG cancels proposed N8000 cash palliative; to increase minimum wage, distribute key commodities instead

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.

Biodun556:
Good

I don't know why Nigerians are still finding it difficult to do away with petrol. NURTW should help and encourage their members to convert their vehicles to CNG powered or electric vehicles.

If government is not helping us we can help ourselves rather than suffering.

Only NIPCO and INNOSON have come up with something reasonable what are others doing?

We have alternative to petrol why are we keeping quiet, are we addicted to petrol?

toneroforever:


We should be honest with ourselves. Tinubu shouldn't have removed subsidy without a sound economic plan.

At least fix one or two of our refineries or let Dangote's become operational first.
Alternatively ensure that this CNG conversion has been implemented to a large extent & that mass transit buses run on them

Put measures in place before you remove subsidy.

Morbeta11:


https://podiumreporters.com/index.php/2023/07/18/exclusive-fg-cancels-proposed-n8000-cash-palliative-to-increase-minimum-wage-distribute-key-commodities-instead/

toneroforever:


We should be honest with ourselves. Tinubu shouldn't have removed subsidy without a sound economic plan.

At least fix one or two of our refineries or let Dangote's become operational first.
Alternatively ensure that this CNG conversion has been implemented to a large extent & that mass transit buses run on them

Put measures in place before you remove subsidy.

Biodun556:


If truly 96% of Nigeria revenue was used for debt servicing and fuel subsidy gulps 400 billion naira every month I think removal of fuel subsidy is accurate. If not the country will collapse.

toneroforever:
Policy somersault & confusion.... That's what happens when one is ill-prepared before running for office.

It's quite glaring that what drove Tinubu to seek office was just an entitlement mentality,emilokan at it's best & now the destiny of 200 million+ Nigerians r at his mercy.

Folks, we r in for a long,hard ride.