Presidency Rolls Out Palliatives After Increasing Petrol Price

Estimated Reading Time: <1

The Presidency has said that palliatives for the new fuel pricing regime are contained in the 2016 budget and would start in few weeks’ time.

Senior Special Assistant to the Vice President on Media and Publicity Laolu Akande said this in a statement yesterday.

Here’s the breakdown……..

•The direct payment of N5,000 monthly to one million extremely poor Nigerians for 12 months as provided for in the 2016 budget for which N68.7bn has been appropriated.

•The direct provision of very soft loan–cash for market women, men and traders including artisans and agric workers. This would be for a total of 1.76m Nigerians, without the requirement for conventional collateral. Some of the traders will likely get about N60,000. A total sum of N140.3 billion has already been appropriated for this in the budget.

•Payment of between N23,000 to N30,000 per month to 500,000 unemployed graduates who will be trained, paid and deployed to work as volunteer teachers, public health officers and extension service workers, among other responsibilities. They will also be given electronic devices to empower them technologically both for their assignments and beyond. Similarly, 100,000 artisans will also be trained and paid. N191.5bn has been set aside for this in the budget.

•At least 5.5 million Nigerian primary school children; starting first in 18 states, three per geo-political zones; will be fed for 200 school days under the free school feeding programme.

N93.1bn has been appropriated for this in the 2016 budget.

•100,000 tertiary students in Science Technology Engineering & Maths-STEM, plus Education will partake in the N5.8bn already provided for this education grant in the budget. This payment will also be paid directly to the students.

Leave a Comment

Your email address will not be published. Required fields are marked *