Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the federal government will be reaching out to the poorest and vulnerable Nigerians with payments to help cushion the high cost of living.
Speaking on AriseTV breakfast show, the minister maintained that such laudable steps by the Tinubu-led administration are one of many safety measures put in place to lift the population out of poverty.
”The economy is growing at a faster rate than population growth. For example, when you take it in simple terms like that, the figure speaks for itself. More importantly, there is a robust safety net being put in place. We now have a goal standard in terms of reaching the poorest and most vulnerable individuals with payments that the government is providing to help with the cost of living,” Edun said.
He added that each beneficiary will be uniquely and biometrically identified through their NIN, after which the money is paid into their bank accounts and mobile wallets. He stressed that Nigeria’s robust and reliable social register will not only help the government help the people directly, but more importantly, help the government identify who gets what and how much was disbursed.
”Each payee is uniquely and biometrically identified through their NIN, and they are paid through a digital means, whether it is a bank account or mobile wallet and the figures are rammed up. Once you have a social register that is robust and reliable, where you can see who has been paid and when they have been paid and how much they are paid, you have a good means of directly helping people,” he said.
Mr Edun maintained that the government is bent on creating an enabling environment that will attract investors, which in turn increases productivity, which grows the economy and creates jobs.
”This government plans to move millions of people out of poverty by growing the economy. First of all, by creating a stable environment for investment. As investors come in, they increase productivity, which grows the economy and creates jobs.
”The target of the government is not the 3,8 per cent growth that we achieved in the last quarter of 2024 or even the 3.4 per cent, which was the overall average for the year. The target is to move to around 7 per cent per annum, and that figure is two times population growth, and if we can grow consistently at that level year after year, which is the determination of this government, then you lift people out of poverty in their millions,” he concluded.
Culled from The Guardian
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