The Federal Government has mapped out N5 trillion for economic palliative from which the government will pay N5,000 every month to poor Nigerian for 12 months. Before now, the President included 68.7 billion for this purpose in the 2016 budget with the promise that it will be effective from May 2016.
In a statement by the Senior Special Assistant on Media and Publicity to President Buhari, Laolu Akande assured Nigerians that the palliative and intervention by Federal Government will commence in the last week of May 2016, with following features.
Poor Nigerians will be paid N5,000 every month for 12 months and N68.7 billion is already set aside for it as contained in the 2016 budget.
Up to N30,000 will be paid to 500,000 graduates who are unemployed and will also be trained, paid and sent as volunteer workers to different sectors in the country.
Loan will be made available to 1.76 million Nigerians traders, business men/women, artisans and agriculturist without collateral and each of them might be getting up to N60,000 because N40.3 billion is being made available for it.
N1 billion has been provisioned in the budget to feed not less than 5.5 million primary school children across the country for 200 school days.
100,000 students of tertiary institutions will benefit N5.8 billion budgeted for education grants.
“It has been the vision of the President to curb poverty and suffering in our country. From the analysis, about eight million Nigerians will be benefiting from Buhari’s social investment budget.”
ENCOMIUM Weekly sampled opinion of Nigerians about the new development. Many were of the opinion that it will be a great idea only of the Federal Government will keep its promises for the poor and less privileged.
MRS. GRACE NNAJI (Trader)
It is a welcome idea. It’s good but I doubt if it will work out fine just because of the current economic situation of the country. The President made the promise last year but we all understand he could not fulfill it just because of the harsh economy.
Now that there is provision for the project in the 2016 budget, let us hope it will work for the benefit of the masses and not to enrich the pockets of some greedy politicians.
DELE OGUNDEJI (Artisan)
It’s such a great move from the President. I can’t wait to be part of those who will benefit from the loan that will be made available for artisans, traders and business men/women without collateral. If the government will keep its promises that means the change we actually seek is at hand because no President has ever done such for the people of Nigeria.
MISS TAIWO FOLARIN (Petty Trader)
It is a good idea but I suggest the government should focus on improving the economic situation by bringing new ideas. We should focus on creating wealth for our dear country. The only joy every Nigerian will have from it is when the country becomes one of the greatest manufacturing countries in the world.
I wonder why we have to import everything in this country. Nigeria’s population is over 150 million. Countries that are not as populated as ours are doing great. We should all focus on how to move this nation forward and not just N5,000 gift for unemployed youths.
AKINTOLA MARTINS (Mapoly graduate)
It is what we have been waiting for since the present administration came into office last year, but how will the money be efficiently distributed among the target Nigerians. We don’t have single and accountable data base in this country to carry out the project.
Setting a single data base should be the country’s priority if we want this new development to work out fine. Without that, the money will end up in the pockets of some greedy public office holders.
JOHN AKUBUKO (Unilag graduate)
N5,000 for unemployed youths is crucial to the stability of our economy. We will keep reminding the government of its campaign promises. The need to stabilize the economy is what the government should focus on for now.
Nigerians are suffering, no power supply, bad roads, even there are families who doesn’t have food to eat. Setting aside a particular amount for poor Nigerians is like enriching the pockets of politicians because the fund will never be distributed properly.
It’s a good thing. It’s like a promise kept. It will further show Nigerians that Buhari’s government is not a fraud, just as the administration of former President Goodluck Jonathan. I support it though belated. And to me, that will even reduce the level of poverty in the society.
I don’t think it’s necessary again paying N5,000 each to the less privileged because of the state of Nigeria’s economy now. Apart from that, event has even overtaken it. The government should concentrate on key issues in the budget so that there’s going to be a huge economic relief for all Nigerians.