The Federal Government says it would extend its social security payments net to graduates with qualifications from NCE and upwards.
Addressing journalists after the Federal Executive Council meeting on Monday, the minister of finance and coordinating minister of the economy, Wale Edun, disclosed that the programme would see unemployed Nigerian youths being paid stipends.
“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, in the near future, an unemployment benefit for the young unemployed, in particular,” the Minister announced.
Similarly, Edun said the FG will urgently establish a consumer credit scheme to alleviate the pains of economic adjustment.
He explained that the Chief of Staff to the President, Femi Gbajabiamila, will lead a committee that includes the Minister of Budget and Economic Planning, the Attorney-General of the Federation and himself, the Coordinating Minister of the Economy.
Edun also spoke on the review implemented by the Special Presidential panel on the National Social Investment Programme, which has submitted a preliminary report to the president.
He noted that the president gave the highlights to the Council meeting noting that what was done was “a review of the existing mechanisms, a review of the existing programmes, and where there have been successes, such as the 400,000 beneficiaries of the GEEP programme.”
On his part, the Minister of Communications and Digital Economy, Bosun Tijjani, explained that beneficiaries would be vetted through their Bank Verification Number and National Identity Numbers to avoid multiple payouts to one individual.
