N500bn Social Intervention Programmes In 2016 Budget Will Reduce Effect Of Fuel Increment – Presidency

The Senior Special Assistant to the Vice-President on Media and Publicity, Mr. Laolu Akande on Sunday said with the signing of the 2016 budget, eight million Nigerians will benefit from the N500bn social intervention, thereby, cushioning the effect of the recent hike in fuel.

Akande’s remark was contained in a statement he made available to journalists in Abuja.

He said, “Long before now the Presidency has made adequate arrangements in the 2016 budget to ensure that Nigerians are lifted from poverty and hardship.

“The Buhari Presidency is keen to ensure that Nigerians are lifted and that if necessary on an ongoing basis palliatives measures would always been considered to address the conditions of the people.”

Akande said apart from the social intervention, jobs would also be created by infrastructural projects that would be restored and the new ones that would soon be taking off.

He stated that some of the intervention programmes would soon be taking off.

Listing some of the intervention programmes, Akande said, “The payment of N5,000 monthly to one million extremely poor Nigerians for 12 months for which N68.7bn has been budgeted for; soft loan for 1.76 million traders and artisans for which N140.3bn has been earmarked

“Payment of between N23,000 to N30,000 per month to 500,000 unemployed graduates who would be trained, paid and deployed to work as volunteer teachers, public health officers and extension service workers among other responsibilities.

“Electronic devices to empower youths technologically in their assignments.”

The Vice President’s spokesman also disclosed that N191.5bn has been set aside in the current budget for 100,000 artisans who would be trained.

“5.5 million Nigerian primary school children, starting first in 18 states, three per geopolitical zones-would be fed for 200 school days under the free Homegrown School Feeding Programme for with N93.1bn has been appropriated for.

“100,000 tertiary students in Science Technology Engineering and Mathematics and Education will benefit from the N5.8bn already provided for this education grant in the budget.”