Latest news update about Subsidy Removal Palliatives 2023 Registration Portal –Federal Government will spend about 96000000000 (ninety six billions) every Month on 12 Million Poor Households till 6Months to cushion the effect of Subsidy removal, according to Federal Government it will be inform of Subsidy Palliatives.
Meanwhile, Nigeria’s Senate on Thursday speedily approved a request by President Bola Tinubu to borrow $800 million from the World Bank to help cushion the impact of high fuel prices after ending a popular but costly petrol subsidy.
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Subsidy Removal Palliatives/Intervention 2023
The purpose of the facility is to expand coverage of shock responsive safety net support among the poor and vulnerable Nigerians,” Tinubu said, adding that 12 million poor households will be paid 8,000 naira ($10.32) per month for six months, “with a multiplier effect on about 60 million individuals.
According to the President, the money transfer to poor households would have a multiplier effect on about 60 million individuals.
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How to get/apply for President Tinubu Subsidy Removal Palliatives/Intervention 2023
For credibility, the President said the money will be transferred to the households digitally.
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President Tinubu Intervention Plans on Food Security
- Immediate release of fertilizers and grains to farmers and households.
- Synergy between Ministry of Agriculture and Ministry of Water Resources for irrigation and all-year round farming
- Creation of National Commodity Board for price assessment and maintenance of strategic food reserve.
- Increased security measures for farms and farmers
- Central Bank’s role in funding agricultural value chain to be enhanced
- Central Bank’s role in funding agricultural value chain to be enhanced.
- Activation of 500,000 hectares of land for farming and river basins for continuous farming.
- Deployment of concessionary capital/funding to the agricultural sector.
- Improvement of transportation and storage facilities for agricultural products.
- Increase of revenue from food and agricultural exports.
- Improved facilitation of trade by working with Nigerian Customs
- Massive boost in employment and job creation in the agricultural sector
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