– The government of President Buhari rolls out N.5
trillion Economic Palliative Package
– The social initiatives meant to ease pains of
Nigerians over the hike in fuel prices
– The government will pay N5000 monthly to one
million extremely poor Nigerians for 12 months
President Muhammadu Buhari has unveiled a social
investment package designed to impact on the lives of over
eight million Nigerians.
This was contained in a statement by Laolu Akande, senior
special assistant to the president, during an interactive
session with reporters in Abuja.
He clarified that some parts of this package would become
operational in the coming weeks.
The statement reads in part: “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.
READ ALSO: New PMS price: See situation at filling stations
“Long before now, the presidency has made adequate
arrangements in the 2016 budget to ensure that Nigerians
are lifted from poverty and hardship.
“All together the federal government would be directly
impacting the lives of more than 8 million Nigerians in
different social investment 2016 budget spending that
would provide succor and be a ready-made palliative to
“The direct payment of N5000 monthly to one million
extremely poor Nigerians for 12 months as provided for in
the 2016 budget for which N$68.7B has been appropriated.
“The government has also made available a direct provision
of very soft loan -cash for market women, men and traders,
including artisans and agric workers. This would be for a
total of 1.76m Nigerians, without the requirement for
“Some of the traders will likely get about N60,000. A total
sum of N140.3B has already been appropriated for this in
the budget. The details also showed their there would be
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
“They would also be given electronic devices to empower
them technologically both for their assignments and
beyond. 100,000 artisans would also be trained and paid
N191.5B has been set aside for this in the passed budget.
“At least 5.5 million Nigerian primary school children -ie
starting first in 18 states-three per geopolitical zones-would
be fed for 200 school days under the free Homegrown
School Feeding Programme. N93.1B has been appropriated
for this in the 2016 budget.
“In this same vein, 100,000 tertiary students in Science
Technology Engineering & Maths-STEM, plus Education will
partake in the N5.8B already provided for this education
grant in the budget. This payment would also be paid
directly to the students.”
READ ALSO: Fuel subsidy removed; new price of fuel
Akande said that this will not only pacify the current pains
arising from the new fuel pricing regime, but will give
ongoing social safety nets for over 8 million Nigerians this
The presidential aide added that this is beside the jobs that
would be created by the infrastructural projects that would
be restored and the new ones that would soon be taking
Ibe Kachikwu, the minister of state for petroleum, has on
May 11 announced the removal of fuel subsidy and the
increasing the pump price of petrol to N145 per litre.
Nigerians have been angry last week with the Buhari
government and its decision to set the new price for
petroleum, saying that the president is adding pains to
them, but not ease their sufferings.
The APC had during its campaign supported the promise of
paying N5,000 as monthly stipend to the most vulnerable in