Tinubu Wants To Give 70bn To Law 470 Lawmakers But 60m Nigerians Are Expected To Share 500bn—Johnson Chukwu

Amidst the constant uproar over the impending mitigation measures of the Bola Tinubu government, Johnson Chukwu, a noted economic expert and public affairs commentator, has come forward to question the President’s rationale for the release of huge sums that are limited. Funds given to members of the National Assembly are compared to those paid to poor Nigerians across the country.

In an interview with ARISE TV’s Morning Show on Saturday, July 15, Chukwu said the disbursement of up to 70 billion naira by Tinubu’s government to just 470 people shows how distorted its priorities are. In the Tenth National Assembly, over 60 million Nigerians will share a paltry half a trillion naira within six months.

He said, “Financial management is primarily the allocation of limited resources. It means prioritizing limited resources according to one’s preferences. So giving Congress $70 billion shows the priorities of the president and the administration. We keep talking about eradicating poverty, but the question I keep asking is how do we eradicate poverty? Today the president is talking about donating money. If 12 million families receive 8 thousand for 6 months, then in total is 576 billion.”

“So you are talking about a distribution of 576 billion to 60 million people because it is calculated based on an average of 5 people per household. But then you distribute $70 billion to less than 500 people. The National Assembly has about 360 members in the House of Representatives and about 109 members in the Senate. Hence, they have only about 470 members in the National Assembly and the President will give them 70 billion while 60 million people are expected to share 500 billion. This shows the priorities of his government.”

SOURCE: YouTube (Forward video to 2:33).

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