In an effort to alleviate the economic hardship plaguing Nigerians, members of the House of Representatives have raised N704 million, sourced from a 50% salary contribution over the past five months. This initiative, aimed at supporting vulnerable members of society, was announced by Speaker Tajudeen on December 19, 2024. However, questions have arisen over the decision to present the money to President Bola Tinubu on December 31, rather than directly utilizing the funds to assist those in need.
The initiative, which began in July, was in response to Nigeria’s escalating cost-of-living crisis, exacerbated by policies such as the removal of the petrol subsidy and the floating of the naira. These reforms have pushed inflation rates to an alarming 34.6%, with food inflation reaching nearly 40%. As Nigerians struggle with soaring food and energy costs, many wonder why a significant portion of the National Assembly’s funds isn’t being deployed directly to mitigate the crisis.
The decision to present the N704,907,578.82 to the president has sparked controversy, particularly because of the unclear process behind it. Critics are questioning why the funds, intended to support the vulnerable, will be handed over to the president instead of being distributed directly to those in need. Some are also raising eyebrows over the salary cuts announced by lawmakers earlier in the year, only to discover that the reductions applied only to their basic salary—leaving their much higher allowances untouched.
Despite the positive public reception to the initial pay cuts in July, the actual impact on lawmakers’ pay remains shrouded in secrecy. With public officials’ allowances estimated to exceed N10 million monthly, the real financial commitment of lawmakers to the welfare of vulnerable Nigerians has come into question.
As the government grapples with record inflation and a growing disparity between the rich and the poor, Nigerians continue to call for more effective and transparent solutions to address the country’s economic challenges. The raising of N704 million by the House of Representatives may be a symbolic gesture of goodwill, but many are asking if it’s enough to truly tackle the hardships faced by everyday Nigerians.
