President Bola Ahmed Tinubu has ordered the redesign of the federal government social security and unemployment programme, the Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has said.
The minister said this while briefing State House correspondents at the end of the Federal Executive Council (FEC) meeting chaired by the President.
He said the redesign was necessary to ensure payment to unemployed Nigerian youths and reinstatement of the transfer of N25, 000 to 12 million households for three months.
He said federal government was considering another programme to boost the purchasing power of the Nigerian youth.
“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 program 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.
“Finally, all in the same line, to emphasize that there is empathy. And there is feeling for those who are less well off, or feeling particularly the pains of this adjustment, there is a social consumer credit programme.
“So, by making consumer credit available, of course, goods become more affordable, the economy even gets a chance to revive faster, because people have purchasing power that allows them to order goods, products,” he said.
The minister also spoke on the review by the Special Presidential Panel on the National Social Investment Programme (NSIP), saying that the President gave highlights at the FEC meeting.
