Vice President of Nigeria, Professor Yemi Osinbajo disclosed at the 10th Year Anniversary Lecture of Crescent University, Abeokuta, Ogun State on Saturday that the government has plans to pay N5000 each to unemployed graduate and to the poorest Nigerians across the country. The Lecture was themed ‘The Nigerian Economy and the Future’.
According to the Professor, the government is currently evaluating the best ways to collapse existing cash transfer and establish social welfare schemes in the country. “we cannot talk about the economy of the future without addressing how we move people out of poverty.
“One of the most striking promises we made during the campaign was the payment of Five Thousand Naira to the poorest Nigerians across the country” he noted.
“Once this is completed, we will implement the first phase of this program, using recognized identification platforms and transparent payment solutions”, he said.
“About 112 million (66% of Nigerians) are deemed extremely poor, measured by World Bank parameter of those living on less than US$1.25 per day,” Osinbajo explained.
This is part of the new government’s plans to alleviate poverty in the land and ensure cash flow with the rural and poor citizens. The Vice President also stated that recognized identification platforms and transparent payment solutions would be used in this process. Time, however would judge if this idea is laudable and sustainable in a country like Nigeria with her peculiar history.