Economic Hardship: FG Will Give N25K Every Month To 15 Million Households

Nigeria has one of the highest poverty rates in the world. The Federal Government is set to distribute N25,000 monthly across 15 million households nationwide as part of measures to minimise the level of economic hardship faced by Nigerians.

One of the steps the Federal Government is taking to lessen the degree of economic hardship experienced by Nigerians is the monthly distribution of N25,000 to 15 million households throughout the country.

President Bola Tinubu eliminated fuel subsidies and currency controls after taking office last year, which caused gas prices to triple and living expenses to rise as the value of the naira fell against the dollar.

Many Nigerians are experiencing a financial crisis due to the current administration's policies, which has resulted in skyrocketing inflation and a shortage of food. In order to voice their disapproval of Tinubu's leadership style, many people have taken to the streets.

Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, stated in an exclusive interview on Channels Television that the Federal Government is trying to lessen the suffering, particularly for the weak and impoverished.

Read: Economic Hardship: Governor Sanwo-Olu To Use ‘Mama Put’ Feed Lagosians

“But I think the important thing to point out, at this time, is that the focus of Mr President is on keeping his promise, particularly to the poor and the vulnerable. Food prices are elevated, and the purchasing power is limited and that is what Mr President is speaking directly to through the intervention programme of direct payments of N75,000 each over three months,” Edun said.

“That is N25,000 a month to 15 million households and each household is about five people. So, that effectively provides funding for 75 million people.”