At the 10th Year Anniversary Lecture of Crescent University, Abeokuta, Ogun State titled, Vice President, Yemi Osinbajo has given the hint that President Buhari's government has an ongoing plan to pay the poor and unemployed the sum of N5000...
At the 10th Year Anniversary Lecture of Crescent University, Abeokuta, Ogun State titled, ‘The Nigerian Economy and the Future’, Vice President, Yemi Osinbajo has given the hint that the President Buhari's government has an ongoing plans to implement one of its striking campaign promises that it will pay N5000 each to the poorest Nigerians across the country.
"The federal government is currently evaluating the best ways to collapse existing cash transfer and social welfare schemes to ensure consistency and alignment. Once this is completed, we will implement the first phase of this program, using recognized identification platforms and transparent payment solutions”, he added.
On the pervasive poverty ravaging the country, Osinbajo said the payment of N5000 each to poor Nigerians was necessary because
“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. 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.”
The Vice President observed that the level of poverty explains much of the Nigerian situation because it affects all aspects of life,including why over a million Nigerians die yearly of preventable diseases.
“It reflects in our alarming rates of infant mortality and maternal deaths at childbirth. It also tells why so many children of school age are out of school and why so many adults lack access to healthcare and proper vocational training; why, in effect, they are less efficient and less productive at work”, Osinbajo noted.