In a move to mitigate the economic hardships caused by the removal of the petrol subsidy, the House of Representatives will present N704.91 million to President Bola Ahmed Tinubu on December 31, 2024.
The funds, drawn from a six-month 50% salary reduction by lawmakers, are intended to benefit vulnerable Nigerians.
Speaker of the House, Tajudeen Abbas, made the announcement during Thursday’s plenary session, commending his colleagues for their commitment to alleviating the plight of Nigerians.
“If you recall, about five months ago, we decided to contribute half of our salaries to address the critical needs of the Nigerian people,” Abbas said. “I am happy to inform you that we have so far raised N704,907,578.82, which will be handed over to the President for the exclusive use of vulnerable Nigerians who truly need it.”
The initiative stems from a motion introduced by Deputy Speaker Benjamin Kalu on July 18, 2024. The motion called for immediate action to address hunger and economic difficulties while also aiming to quell public dissatisfaction that had led to calls for protests against perceived bad governance.
“This government is doing its best, but one year is not enough to address the challenges of this country,” Kalu said while proposing the salary cut. “I want to plead with our colleagues to sacrifice 50% of our salary for a period of six months. Our salary is N600,000 a month, and this gesture is necessary to support Nigerians in this difficult time.”
The fund will be officially handed over to President Tinubu by a delegation led by the Speaker. According to Abbas, the donation underscores the lawmakers’ dedication to addressing the pressing needs of the Nigerian populace.
The initiative has been widely viewed as a proactive response to the economic realities following the Federal Government’s subsidy removal, which has significantly impacted fuel prices and the cost of living across the country.
The House of Representatives’ decision highlights a rare show of solidarity with Nigerians grappling with economic hardship and aims to provide a tangible relief effort to ease their burdens.
