Business
The Federal Government is set to initiate cash transfers aimed at assisting 20 million poor Nigerians.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has stated that the rise in Nigeria’s revenue for the 2024 fiscal year is being thoughtfully distributed across several social intervention programs designed to enhance the quality of life for citizens and tackle urgent societal challenges.
The minister announced that the social investment program aims to benefit 60 percent of the most disadvantaged individuals, impacting approximately 20 million people.
“In terms of revenue, the number one place to look was inwards, domestic resource mobilisation. That’s where the government started. By the first half of this year, revenue had doubled.
“Aggregate government revenue was more than doubled. And that was achieved by applying technology very robustly.
“We have applied technology in a way that essentially reforms the civil service. Rather than waiting for compliance from government ministries, departments and agencies and government companies, we looked at what the rules and regulations were, how much a company was allowed to spend on its revenue, and then how much of its surplus it had to provide to government.
“The social investment programme is spearheaded by direct transfers to reach 60 per cent poorest in the population. And right now, 20 million households are being supported directly. And it’s going to rise to, well, 20 million people, four million households so far, and it will rise to 15 million households who will be paid directly by the government.
“That is how President Tinubu’s government is spending the money which is being yielded from better oil production.”
-
News2 days ago
WRONG MOVE: Federal University Otuoke Sack Bayelsa Staff
-
Business3 days ago
EXCLUSIVE: NNPCL and Tantita Security face legal battle over alleged “cronies” contract
-
Crime3 days ago
Organ Harvester Arrested In Imo State After Daring Attempt To Kidnap Girl
-
Politics4 days ago
REFUTAL: Mitin Family Distance Self From APC Suspension Of Heineken Lokpobiri, Others.
-
World News3 days ago
Kenyan MPs vote to impeach deputy president
-
News3 days ago
Fall-out of LG election: Gov. Eno lobbies candidates with contracts, appointments
-
World News2 days ago
Iceland PM calls new election as coalition government collapses
-
Politics5 days ago
Hon. Alex Blankson Condemns Alleged Suspension Of Heineken Lokpobiri, David Lyon