President Tinubu Government has backtracked on subsidy palliative and mulled an increase in the minimum wage.
Newsonline Nigeria reports that the Federal Government has made a U-turn on its decision to distribute a monthly cash amount of N8,000 to 12 million households.
This Nigeria News platform understands that the sources in the State House confirmed the development to newsmen on Tuesday.
The change in plans comes as the government expressed concerns over the effectiveness of cash distribution in supporting the poor amidst the increase in fuel price caused by the removal of the corrupt fuel subsidy regime.
Instead, the government will raise the country’s minimum wage, a demand long advocated by Nigeria’s Labour Congress, NLC.
This increment was expected to significantly increase the earnings of millions of Nigerians and offer relief in the face of the rising cost of living.
The FG will distribute key commodities to the poor to provide relief and ensure their survival.
The development was in response to the termination of the fuel subsidy.
The government had announced that the fuel subsidy has negative impacts on the country’s finances and hindered the growth and development of important sectors such as health, education, and infrastructure.