Business
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.”
Read also: Petrol price increase is about forex, not subsidy removal -Osinbajo
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.
RipplesNigeria… without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...