On Monday, the Federal Government announced its plan to broaden its social security coverage to include graduates holding qualifications from NCE and beyond. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, revealed after the Federal Executive Council meeting that the initiative aims to provide stipends to unemployed Nigerian youths.
“At this period of heightened food prices, Mr. President has committed to doing all that can be done to assist in giving purchasing power to the poorest and in that line.
“He has committed and instructed that the Social Security unemployment programme be devised, particularly to cater for the youth, for the unemployed graduates, as well as the society as a whole.
“So, we have coming, in the nearest future, an unemployment benefit for the young unemployed, in particular,” the Minister announced.
Likewise, Edun indicated that the Federal Government will promptly set up a consumer credit scheme to mitigate the challenges of economic adaptation. He clarified that the committee, headed by the Chief of Staff to the President, Femi Gbajabiamila, and comprising the Minister of Budget and Economic Planning, the Attorney-General of the Federation, and himself as the Coordinating Minister of the Economy, will oversee this initiative.
Additionally, Edun addressed the review conducted by the Special Presidential Panel on the National Social Investment Programme, which has already submitted an initial report to the president.
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