President Bola Tinubu has announced a plan by the federal government to transfer N8,000 to 12 million poor households in Nigeria for a period of six months.

Development Diaries reports that this comes after the president urged Nigerians to be patient, promising that he will come up with palliatives to relieve the ongoing hardship.

The latest development was detailed in a letter the president issued to the House of Representatives with regard to the previous administration’s request for an 800 million dollar loan to fund its social safety net programme.

President Tinubu further said that the transfer of funds to low-income households would benefit an additional 60 million people, adding that for credibility, the money will be transferred to the families digitally.

The removal of fuel subsidy has burdened a lot of Nigerians in various ways, while more people have been pushed deeper into poverty.

Given that the cost of the majority of products and services has tripled while the income of many residents has stayed flat, Nigerians are today facing tough financial challenges.

In actuality, many Nigerians have lost value of what they have due to the 22.41 percent inflation rate as given by the National Bureau of Statistics (NBS).

The country’s inflation rate increased to 22.41 percent in May, the highest level in over 19 years, according to the NBS.

In its Nigeria Development Update for June, the World Bank said about 7.1 million poor Nigerians would become poor if the federal government failed to compensate or provide palliatives for them.

Development Diaries calls on Tinubu to clarify the data they intend to use in deciding the households that will be provided for, and also be specific on other measures they plan to put in place to provide succour.