President Bola Ahmed Tinubu has said the government had made provisions for a monthly grant of N25,000 for three months to 15 million Nigerians, as well as tax waivers, to serve as the panacea to citizens’ economic hardship.
He spoke on Sunday while highlighting his administration’s economic programme in an interview to mark the Man-Of-The-Year award bestowed on him by The Nation newspaper.
Tinubu owns The Nation newspaper.
The President admitted that he is aware of the country’s economic crisis and its severe impact on Nigerians.
According to him, his administration was taking proactive steps to nip the challenges in the bud.
He highlighted that the country has commenced a tax waiver for Compressed Natural Gas purchases and diesel to ease the impact of fuel subsidy removal on transportation.
Tinubu said: “As your President, I am deeply aware of the severe impact of the economic crisis on Nigerians, and we are part of a global challenge with the rising living costs. To help our people, my administration is taking proactive steps.
“We are focused on providing financial support to businesses and ensuring the availability and affordability of staple foods, which are essential for every Nigerian family.
“One of our key initiatives is the provision of N25,000 monthly to 15 million households for three months.
“To further support food security, we’re working with our local and international partners to improve agricultural practices and provide essential resources to farmers.”
