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“Unemployed Nigerians soon to earn N5000 monthly”-Vice President Osinbajo

“Unemployed Nigerians soon to earn N5000 monthly”-Vice President Osinbajo

Nigerians might be on the threshold of one of the biggest political moves of all time as the administration of President Muhammadu Buhari over the weekend declared that there are ongoing plans to implement one of its striking campaign promises that it will pay N5,000 each to the poorest Nigerians across the country monthly.

Vice President Yemi Osinbajo who gave the hint noted that 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 programme, using recognized identification platforms and transparent payment solutions”, he added.

According to Osinbajo, the payment of N5,000 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 N5,000 to the poorest Nigerians across the country”, he noted, even as he regretted that today, “about 112 million (66% of Nigerians) are deemed extremely poor, measured by the World Bank parameter of those living on less than US$1.25 per day.”

He also noted that the level of poverty in the nation affected other 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.

“The vexed questions of the day pertain mainly to the economy. What is the real state of affairs? With so much reliance on a single commodity, how do we survive in an era of oil glut and falling commodity prices?”

He lamented that while many public servants are being owed arrears of salaries across the country, many traders are experiencing a downturn in sales.

“Artisans abound, whose businesses cannot thrive without power supply and many of our youths are searching in vain for employment”, the VP added.

On power generation, Osinbajo noted that the APC manifesto promised to deliver a minimum of 10% GDP growth annually, while ensuring an inclusive economy that improves the lives of all Nigerians.

Osinbajo, speaking at the 10th Anniversary Lecture of Crescent University, Abeokuta, Ogun State also said the federal government had identified the weak transmission of electricity from the national grid, which made the generation of more than 5,000megawatts impossible.

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