Following criticism that has trailed the planned disbursement of N500 billion palliative, President Bola Tinubu has ordered a thorough review of the interventionist programme.
This was contained in a press statement issued on Tuesday by Dele Alake, the Special Adviser to the President on Special Duties, Communications and Strategy.
The N500 billion interventionist programme was initiated to cushion the effect of the fuel subsidy removal in a request the president sent to the National Assembly and billed to last for six months.
It was tacitly approved.
However, expressions of dissent and disapproval, especially by some.opinion leaders and economists, have left the president to call for a review, which he said would ensure proper approach to the vexatious issue.
The statement also indicated that there would be release of grains and fertilisers to almost 50 million farmers.
Alake said the President had a covenant “with Nigerians that their welfare and security will be topmost in the Renewed Hope Agenda of his government,” as a consequence, would continue to hold his side of the agreement.
He however noted that there has been misconception regarding the policy which he said has led to a lot of ill-information.
“The Administration believes in the maxim that when there is prohibition, there must be provision, ” he said adding that, “Since subsidy, the hydra-headed monster threatening to kill the economy, has been stopped, the government has employed a broad spectrum of reliefs to bring help to Nigerians.”
He stressed that based on the agreement to listen to Nigerians, “the N8,000 conditional cash transfer programme envisaged to bring succour to most vulnerable households be reviewed immediately.
“This is in deference to the views expressed by Nigerians against it.
“That the whole gamut of palliative packages of government be unveiled to Nigerians.
“Immediate release of fertilisers and grains to approximately 50 million farmers and households respectively in all the 36 states and the FCT,” he added.
He further pointed out that, “The President further assures Nigerians that the N500 billion approved by parliament to cushion the pain occasioned by the end of subsidy regime will be judiciously utilised. The beneficiaries of the reliefs shall be Nigerians irrespective of their ethnic, religious or political affiliation.
“President Bola Tinubu has promised to always prioritise the wellbeing of Nigerians and he is irrevocably committed to the vow. A number of decisions taken so far by this Administration have buttressed this stance.
“You will recall that the President took a similar decision after listening to complaints from the business community/stakeholders about burdensome taxes, particularly multiplicity of taxes they are made to experience.
“This warranted the signing of four (4) Executive Orders cancelling some classes of taxes, while suspending the implementation dates of others.
“In addition, the President has also set up a Tax Reform/Fiscal Policy Committee to bring up recommendations that will engender a wholesome fiscal environment for the country and remove anti-business barriers,” he added.