Over 8m Nigerians to benefit from N500b social investment


The planned N500billion palliatives earmarked in the 2016 budget will benefit over eight million ordinary Nigerians.

Confirming this development, the Senior Special Assistant on Media and Publicity to Vice President, Mr. Laolu Akande said the Federal Government, will implement the N500 billion earmarked in the 2016 budget for social welfare.

“All together the Federal Government would be directly impacting the lives of more than 8 million Nigerians in different social investments, in the 2016 budget spending that would provide succour and be a ready-made palliative to ordinary Nigerians.”

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The direct payment of N5000 monthly to one million extremely poor Nigerians for 12 months as provided for in the 2016 budget for which N$68.7b has been appropriated, including direct provision of very soft loan-cash for market women, men and traders, including artisans and agriculture workers, would be for a total of 1.76m Nigerians, without the requirement for conventional collateral, he stressed.

He continued, that there will also be payment of between N23,000 to 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,” he added.

The sum of N191.5b in the budget has been set aside to train and pay 100,000 artisans.


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