Initial details have surfaced on the implementation process of the N500 billion social welfare programme of the federal government.
It was learnt that one million extremely poor Nigerians would be direct beneficiaries of the N5,000 monthly stipend payment.
As soon as the 2016 budget is approved by the National Assembly, the five social protection programmes of the government is expected to kick off.
According to a statement issued by the Office of the Vice-President, Professor Yemi Osinbajo- a total of N60 billion would be directly transferred to one million Nigerians, in the monthly stipend programme.
The details were released on Sunday, February 7, by Adeolu Akande, Senior Special Assistant, Media in the office of the Vice-President.
The social intervention is billed to include 500,000 direct jobs, which will see unemployed graduates being trained and deployed as volunteer teachers while a youth employment plan will see the training of 370,000 non-graduates youths in different skills and vocational programmes.
“The recruitment of beneficiaries into the volunteer teaching jobs and the skill acquisition training scheme for non-graduates would be done on state basis, including the FCT and opened to all Nigerians of different shades.”
Also included is the micro credit scheme where one million Nigerians, mostly small scale traders, artisans and market women, would get a one-time soft loan of N60,000 each through the Bank of Industry.
Another facet of the social protection schemes is the free education plan for students of Science, Technology, Engineering and Mathematics, STEM, where government will pay tuition for 100,000 students.
“Even economic historians now say that not only is the half a trillion Naira vote unprecedented, but it is also the greatest service ever done to the Nigerian state and people by any federal government administration.”
“The six social safety plans would reduce high levels of poverty and vulnerabilities, while also increasing Nigeria’s Human Development Index on the global UN rankings.
“The President’s vision is to increase investments in human capital to guarantee security for all, employment and improved well-being of the people.”
Akande further revealed that the World Bank and the Bill Gates Foundation were working with the Presidency to develop an efficient payment system.
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