On Monday, the Federal Government declared its intention to extend social security benefits to graduates with qualifications from NCE and beyond. Wale Edun, the Minister of Finance, emphasized that the goal is to provide allowances to unemployed Nigerian youths. This initiative, revealed after the Federal Executive Council meeting, aligns with the President’s commitment to enhance purchasing power, particularly for the poorest citizens. Furthermore, a consumer credit scheme, spearheaded by the Chief of Staff to the President, Femi Gbajabiamila, is set to be promptly established to facilitate economic adjustments. Edun underscored the upcoming social consumer credit program, highlighting that accessible consumer credit promotes affordability and hastens economic recovery. During the Council meeting, the President outlined a comprehensive review of existing mechanisms and successful programs, including the resumption of direct payments to 12 million households. The identification process involves stringent measures using national identity and bank verification numbers. Minister Tijjani of Communications and Digital Economy explained the vetting process to prevent duplicate payouts, utilizing credible datasets such as BVN and NIN.
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