- Biodun Oloyede, an academic and writer, has urged President Bola Tinubu to rethink the move of transferring N8,000 cash palliative to 12 million poor and vulnerable families in Nigeria
- Oloyede, who is don at the Osun State Polytechnic, Iree, wondered what would happen to the 12 million families after the six months that the government planned to distribute the palliative
- The literati also posited that such palliative would amount to economic fortune for the country and its people
Biodun Oloyede, the registrar of the Osun State Polytechnic, Iree, has described the move by President Bola Tinubu to transfer N8,000 cash palliative to 12 million poor and low-income families as giving people fish rather than giving them how to fish.
While speaking with Legit.ng Oloyede wondered what would happen to the 12 million Nigerians after six months when the government stopped the cash transfer palliative.
Photo Credit: Bola Ahmed Tinubu
Source: Twitter
How Tinubu plans to cushion the effect of subsidy removal
Following the pronouncement by President Tinubu that “subsidy is gone”, the cost of living in the country has massively gone up as petrol marketers immediately increased the fuel prices across the country.
The presidency subsequently announced the proposal of ₦500 billion, which translated to ₦8,000 monthly palliative for the 12 million vulnerable households in the country for six months.
According to the Tinubu administration, the move is a kind of social safety measure to cushion the effect of the petrol subsidy removal on vulnerable families.
Why President Tinubu’s 8k palliative could fuel poverty
But Oloyede, a writer and academic, in an interview with Legit.ng, described the move as “illogical and a waste”, adding that such would not amount to any economic fortune for the country.
He said:
“I’m not in support of borrowing to feed. I’m an advocate of teaching people to fish and be more productive to stem poverty. After six months of feeding, what happens next?
“It’s totally illogical and a waste. It will have no impact on the people and our economy.”
Source: Legit.ng
