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Hardship: 15 million households to receive N25,000 monthly – Finance Minister
Hardship: 15 million households to receive N25,000 monthly – Finance Minister
Minister of Finance, Wale Edun, says the federal government is making efforts to minimise the level of economic hardship faced by Nigerians.
Edun spoke on how President Bola Tinubu will alleviate the difficulties in the country during an interview on Channels Television on Friday.
Since the removal of fuel subsidy and the increasing rate in the foreign exchange market, the cost of living in the country has been unbearable for many households.
Speaking on the measures put in place to provide succour, the minister said the president is introducing intervention programmes that will be delivered directly to households.
He said the programmes, which have been revamped, will now “be immediately implemented”.
“Mr president is bringing an intervention programme, which has direct payments of N75,000 each, over three months, that is N25,000 a month to 15 million households and each household is about five people. So that effectively provides funding for 75 million people,” Edun said.
“That all-important programme has been revamped to make sure that it is robust and to make sure that each beneficiary has a NIN number and a BVN number or access to mobile money accounts so that we are sure that the right people are paid and that the system is fraud-free.
“In addition, and this is really in addition to the intervention, to put food on people’s tables to make access to folk food affordable for the average Nigeria and that is the intervention to provide greens, for food and even for feed females. All in an effort to increase the availability of food in the markets.
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“Earlier, there was the release from the strategic greens; more recently there was a 42,000 metric tonne release from the strategic reserves and with another 60,000 metric tonnes to come. This is all in a bid to make sure there is food in the marketplace but more importantly, the emphasis now is on making sure food. The purchasing power to buy food is in the hands of the poor and the vulnerable in our society in particular.
To improve productivity, Edun said the government is also planning to give artisans, traders, women, and youth, a grant of N50,000 to start nano businesses.
“In this particular case there will be digital verification, just like with the direct payments, direct transfer procedure and in this particular case, it will cover at least 1000 people in all 774 local governments,” he said.
“So that programme will now be another N50 billion. The important thing is to know that to the extent that this is the most direct way to help people at this time, it can be expanded it can be continued until we find a more stable environment in terms of food production, food prices, and affordability through increased spending power of the poor people.”
According to Edun, the reason for the economic situation at the moment is as a result of eight years of a buildup of money supply, liquidity in the system, and money which was not matched with increased production.
“Therefore we had excess demand and an excess supply of money without having the goods on the other hand to match it. That is what the reform measures are correcting and they are well on the way to doing that,” he said.
Edun said the microeconomic put in place would go a long way to provide relief, adding that technology would be deployed to ensure payments and revenues paid would go directly to desired places without any intermediary.
Hardship: 15 million households to receive N25,000 monthly – Finance Minister
News
Edo Gov Okpebholo freezes govt accounts, reverses ministry’s name
Edo Gov Okpebholo freezes govt accounts, reverses ministry’s name
Edo State Governor, Monday Okpebholo, has directed the immediate freezing of all state-owned bank accounts.
In a statement issued on Thursday by his Chief Press Secretary, Fred Itua, the governor stated that the accounts would remain frozen until further notice.
He instructed commercial banks, ministries, departments, and agencies (MDAs) to comply with the order immediately or face severe consequences.
The statement reads: “All state bank accounts with commercial banks have been frozen. Commercial banks must comply with this order and ensure that not a single naira is withdrawn from government coffers until further notice.
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“Heads of Ministries, Departments, and Agencies must ensure full compliance without delay.
“Following necessary investigations and reconciliations, the governor will take appropriate action and decide on the way forward. For now, this order remains in effect.”
Okpebholo also directed relevant agencies to revert the name of the Ministry of Roads and Bridges to its previous title, the Ministry of Works, a change made during the Godwin Obaseki administration.
“It is odd to name a government institution the Ministry of Roads and Bridges, especially when not a single bridge was built by the previous administration — not even a pedestrian bridge.
“In the coming days, we will examine further actions taken by the previous administration and make decisions that serve the best interests of the state,” the statement added.
Edo Gov Okpebholo freezes govt accounts, reverses ministry’s name
News
Israel-Palestinian conflict: Two-state solution is a deception, says Gumi
Israel-Palestinian conflict: Two-state solution is a deception, says Gumi
Prominent Islamic scholar Dr. Ahmad Mahmud Gumi has criticized the widely discussed two-state solution for the Israel-Palestine conflict, calling it a “deception.”
His remarks followed a recent summit of the Organisation of Islamic Cooperation (OIC) in Riyadh, where President Bola Tinubu and other leaders condemned Israel’s actions in Gaza and urged an end to hostilities.
In an interview with Daily Trust at his Kaduna residence, Gumi argued, “This Two-State Solution is a deception. No Israeli will allow a Palestinian to survive, and Palestinians will never allow Israel to survive.
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The only solution is to dissolve the two states and create a democratically electable region.”
Gumi commended the OIC’s support for Palestine, noting that Muslims and Arabs worldwide increasingly see the treatment of Palestinians as “genocide” and accuse Israel of human rights abuses.
He also called for a return to the pre-1948 structure, where Palestinians, Jews, and Christians lived together, suggesting a single, inclusive state that allows peaceful coexistence.
“When I hear people talking about Two-State Solutions, I know they are just deceiving themselves,” Gumi added, advocating for a unified region where people of all faiths can live together, similar to the multi-faith coexistence seen in countries like the United States.
Israel-Palestinian conflict: Two-state solution is a deception, says Gumi
News
Court sacks Ondo LP candidate, two days to governorship poll
Court sacks Ondo LP candidate, two days to governorship poll
The Labour Party candidature of Olusola Ebiseni for the upcoming gubernatorial election in Ondo State has been nullified.
The nullification follows the sacking of Ebiseni by the Court of Appeal, sitting in Abuja, on Wednesday.
The governorship election of the southwest State will hold on Saturday, 16 November 2024.
The judgement disqualifying Ebiseni was unanimously delivered by the three members of the panel and read out by the chairman of the panel, Justice Adebukola Banjoko.
The judgment granted the prayer of the Labour Party who preferred the case against Ebiseni.
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Justice Banjoko held that, “the appeal marked CA/ABJ/CV/1172/2024 brought by the Labour Party against Chief Olusola Ebiseni and two others is allowed.”
Justice Banjoko further stated that the Certified True Copy of the judgment would be provided to the parties involved in the appeal as soon as possible for their review.
Recall that Justice Emeka Nwite of the Federal High Court in Abuja had ordered the Independent National Electoral Commission to accept and recognize Olusola Ebiseni and Ezekiel Awude as the Labour Party’s governorship and deputy governorship candidates for the November 16 Ondo State governorship elections.
Justice Nwite confirmed that the second primary election conducted by the Labour Party, which resulted in Ebiseni and Awude being selected as candidates, was valid and should be upheld by INEC.
However, the appellate court has now overturned the judgment of the trial court’s judgment.
Court sacks Ondo LP candidate, two days to governorship poll
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