In a bid to alleviate the economic challenges faced by Nigerians, the federal government has announced its initiative to provide a monthly ₦25,000 palliative to 15 million households nationwide.
During an interview on Channels Television, Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, emphasized the government’s commitment to easing the burden, especially for the vulnerable and impoverished segments of society.
Edun stated, “It is crucial to highlight that Mr. President’s focus is on fulfilling his pledge, particularly to the underprivileged. With elevated food prices and limited purchasing power, the intervention program involves direct payments of ₦75,000 over three months.”
“This translates to ₦25,000 per month for 15 million households, with an average household size of five individuals. Consequently, this initiative will benefit approximately 75 million people,” he added.
Additionally, the minister reaffirmed the government’s plan to release grains to mitigate the impact of soaring food prices.
“We have recently released 42,000 metric tonnes from the strategic reserves, with an additional 60,000 metric tonnes forthcoming. These efforts are aimed at ensuring food availability in the market,” the minister concluded.
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