The Senior Special Assistant on Media in the Office of the Vice President, Adeolu Akande, on Sunday revealed that one million extremely poor Nigerians would be direct beneficiaries of the N5,000 monthly cash transfer.
A statement by Akande disclosed that a total of N60 billion would be directly transferred to one million extremely poor Nigerians in accordance to President Muhammadu Buhari’s vision of building human capital.
The payment which is to commence once the
budget is approved by the National Assembly, is in
addition to another
five social interventions that include the provision of one meal a day
to school pupils in some selected states.
He revealed that other
elements of the social intervention scheme, include the 500,000 direct
jobs, which will see unemployed graduates being trained and deployed as
volunteer teachers in their communities.
According to Akande, the
current government is putting together a youth employment plan which
will see the training of 370,000 non-graduates youths in different
skills and vocational programmes.
Akande said, “The recruitment
of beneficiaries into the volunteer teaching jobs and the skill
acquisition training scheme for non-graduates would be done on state
basis, including the FCT and opened to all Nigerians of different
He also disclosed that one million Nigerians, mostly
small scale traders, artisans and market women, through micro finance
would get a one-time soft loan of N60,000 each through the Bank of
Akande also revealed that the current administration
plans to pay tuition fee for 100,000 students of Science, Technology,
Engineering and Mathematics, STEM.