2016 Budget: One Million ‘Extremely Poor’ Nigerians To Receive N5,000 Monthly

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Tentative details have emerged from the Office of the Presidency on the implementation of N500 billion social welfare programme.

President Buhari places the 2016 Budget before a joint session of the National Assembly
President Buhari places the 2016 Budget before a joint session of the National Assembly

According to the details, one million ‘extremely poor’ Nigerians would be direct beneficiaries of the N5,000 monthly stipend payment.

The payment which is to kick off as soon as the 2016 budget is approved by the National Assembly, is besides another 5 social plans that include the provision of one meal a day to school pupils in some selected states.

This disclosure was contained in a statement issued on Sunday, February 7, from the Office of the Vice-President, Professor Yemi Osinbajo.

The Senior Special Assistant, Media in the office of the Vice-President, Adeolu Akande, also revealed that other elements of the social intervention scheme include the 500,000 direct jobs, which will see unemployed graduates being trained and deployed as volunteer teachers in their communities while still prospecting for jobs in their chosen professions.

“The recruitment of beneficiaries into the volunteer teaching jobs and the skill acquisition training scheme for non-graduates would be done on state basis, including the FCT and opened to all Nigerians of different shades,” Akande said.

Also included is the micro credit scheme where one million Nigerians, mostly small scale traders, artisans and market women, would get a one-time soft loan of N60,000 each through the Bank of Industry.

And finally there is the free education plan for students of Science, Technology, Engineering and Mathematics, STEM, where government will pay tuition for 100,000 students.

“Even economic historians now say that not only is the half a trillion Naira vote unprecedented, but it is also the greatest service ever done to the Nigerian state and people by any federal government administration.”

“The six social safety plans would reduce high levels of poverty and vulnerabilities, while also increasing Nigeria’s Human Development Index on the global UN rankings.

“The President’s vision is to increase investments in human capital to guarantee security for all, employment and improved well-being of the people,” Akande concluded.



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