Economic hardship: FG to give out N25K monthly across 15m households
As part of efforts to lessen the economic hardship experienced by Nigerians, the federal government said it would give N25,000 per month to 15 million households across the country.
Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, stated in an interview on Channels Television that the federal government is trying to reduce the suffering, particularly for the vulnerable and impoverished.
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”.
“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.”
The minister also restated the Federal Government’s intention to supply grains in order to lessen the impact of food prices rising.
“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.
