President Muhammadu Buhari has written the House Representatives, requesting approval for $800 million loan to finance the National Social Safety Network Programme (NASSP) and passage of the Federal Fire and Rescue Service (Establishment) Bill, 2022.
Buhari’s requests were contained in two separate letters read by Femi Gbajabiamila, speaker of the House at plenary on Wednesday.
The president said the social safety programme was intended to expand coverage of shock-responsive safety net support among the poor and vulnerable to assist them in coping with the costs of meeting basic needs.
“It is with pleasure that I forward the above subject to you. Please note that the Federal Executive Council (FEC) approved an additional loan facility to the tune of USD 800 million to be secured from the World Bank, for NASSP and the need to request your consideration and approval to ensure early implementation.
“The House may wish to note that the programme is intended to expand coverage of shock-responsive Safety Net support among the poor and vulnerable Nigerians. This will assist them in coping with the costs of meeting basic needs.
“You may wish to note that, the Federal Government of Nigeria under the conditional cash transfer window of the programme will transfer the sum of N5,000 per month to 10.2 million, poor and low-income households for a period of six months with a multiplier effect on about 60 million individuals.
“In order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries accounts and mobile wallets.
“The NASSP being a social intervention programme will stimulate activities in the informal sector, improve nutrition, health, education and human capital development of beneficiary households.
“Given the above, I wish to invite the House to kindly approve an additional loan facility to the tune of USD 800 million to be secured from the World Bank, for the National Social Safety Net Programme. While hoping that this submission will receive expeditious consideration by the House.”
In the second letter, Buhari said the Federal Fire and Rescue Service (Establishment) Bill, 2022 aims to establish and provide a legal and institutional framework for the fire and rescue service.
He expressed hope that; “the bill will be considered for passage in the usual expeditious manner.”
Meanwhile, the House adjourned plenary indefinitely to allow members-elect to complete the ongoing induction.
Ibrahim Isiaka from Ogun State moved the motion for plenary to be adjourned due to the ongoing induction.