As part of efforts to ease economic hardship facing Nigerians, the President Bola Ahmed Tinubu’s led government is set to distribute N25,000 monthly across 15 million households nationwide .
Speaking during an exclusive interview on Channels Television, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that the Federal Government is working to alleviate the hardship, especially for the poor and vulnerable.
The minister also re-echoed the Federal Government’s plan to provide grains to help cushion the rising cost of food items.
He said: “But I think the important thing to point out, at this time, is that the focus of Mr President is on keeping his promise, particularly to the poor and the vulnerable. Food prices are elevated, and the purchasing power is limited and that is what Mr President is speaking directly to through the intervention programme of direct payments of N75,000 each over three months.”
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“That is N25,000 a month to 15 million households and each household is about five people. So, that effectively provides funding for 75 million people.”
“More recently, there was a 42,000 metric tonnes release from the strategic reserves with another 60,000 metric tonnes to come. This is all in a bid to make sure there is food in the marketplace.
INFORMATION NIGERIA reports that since the declaration of the removal of fuel subsidy and the floating of naira among other reforms, the cost of living in the country has skyrocket, sparking protests in some parts of the country.
