As part of efforts to reduce the impact of the economic hardship on Nigerians, the Bola Tinubu’s administration has unveiled a fresh plan to support 15 million households with a monthly sum of N25,000.
The payments will last over a period of three months.
Coordinating Minister of the Economy and Minister of Finance, Wale Edun, disclosed this in an interview in an interview with ChannelsTV.
“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,” Edun said.
“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.
“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.”
Edun also reiterated the federal government’s decision to distribute grains to Nigerians in order to reduce the current high cost of food items.
“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,” the minister said.
