In response to rising living costs and economic challenges, the Federal Government is launching a new plan to give N25,000 every month to 15 million households across the country. This initiative comes after recent policy changes led to increased petrol prices and a tough economic situation for many Nigerians.
Wale Edun, the Minister of Finance, highlighted that the focus is on helping the poor and vulnerable. The program will provide direct payments of N75,000 over three months, giving each of the 15 million households N25,000 monthly, benefiting around 75 million people.
To tackle high food prices, the government is releasing grains from reserves, with more to come. Additionally, there's a plan to grant N50,000 to artisans, traders, women, and youth to start small businesses in all 774 local governments.
Edun explained that the economic challenges stem from an eight-year buildup of money without increased production. He believes the new measures, including digital verification for payments, will directly help those in need.
As the government takes steps to support families and boost economic recovery, the success of these initiatives will be closely watched to ensure positive outcomes for Nigerians.
