Over 8m to benefit from N500b social investment – Presidential aide

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These include the direct payment of N5,000 monthly to one million extremely poor Nigerians for 12 months as provided for in the 2016 budget, for which N68.7 billion has been appropriated; the direct provision of very soft loan – cash for market women, men and traders, including artisans and Agric workers

The Federal Government would be directly impacting the lives of more tan eight million Nigerians in different social investment 2016 budget spending that would provide succour and be a ready-made palliative to ordinary Nigerians.
This disclosure was made on Sunday by the Senior Special Assistant for Media and Publicity to the President, Laolu Akande, in an interaction with the press in Abuja.

Akande gave new details and a breakdown of the interventions and palliatives, some of which he said would be starting in a matter of weeks.

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These include the direct payment of N5,000 monthly to one million extremely poor Nigerians for 12 months as provided for in the 2016 budget, for which N68.7 billion has been appropriated; the direct provision of very soft loan – cash for market women, men and traders, including artisans and Agric workers. This would be for a total of 1.76 million Nigerians, without the requirement for conventional collateral. Some of the traders will likely get about N60,000.

A total sum of N140.3 billion has already been appropriated for this in the budget; payment of between N23,000 and N30,000 per month to 500,000 unemployed graduates who would be trained, paid and deployed to work as volunteer teachers, public health officers and extension service workers among other responsibilities. They would also be given electronic devices to empower them technologically both for their assignments and beyond; 100,000 artisans would also be trained and paid. N191.5 billion has been set aside for this in the passed budget; at least 5.5 million Nigerian primary school children – that is starting first in 18 states – three per geopolitical zone – would be fed for 200 school days under the free Homegrown School Feeding Programme.

N93.1 billion has been appropriated for this in the 2016 budget; 100,000 tertiary students in Science Technology Engineering and Maths, plus education will partake in the N5.8 billion already provided for this education grant in the budget. This payment would also be paid directly to the students.

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Akande said when added together, this year alone more than eight million Nigerians would be benefiting from the Social Investment budget.
Akande, who works from the Office of the Vice President, said the N500 billion social investment programmes of the Buhari administration is a ready made palliative to lift Nigerians from poverty and economic hardship.

“Long before now, the Presidency has made adequate arrangements in the 2016 Budget to ensure that Nigerians are lifted from poverty and hardship,” he stated, adding that this will not only assuage the current pains arising from the new fuel pricing regime, but will provide ongoing social safety nets for over eight million Nigerians this year alone.

Akande added that this is beside the jobs that would be created by the infrastructural projects that would be restored and the new ones that would soon be taking off.

He said: “The Buhari presidency is keen to ensure that Nigerians are lifted and that if necessary on an ongoing basis palliatives measures would always been considered to address the conditions of the people.”

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