SWITZERLAND, SEPTEMBER 13 – President Muhammadu Buhari has stated that his government introduced the largest social investment in sub-sahara Africa.
The president also assured Nigerians that his government remains committed to paying the new minimum wage, which has been pegged at N30,000.
” We introduced the largest social investment program in Sub-Sahara Africa. These programs and many more successfully lifted Nigeria out of recession, I want to assure you all that the Nigerian government remains committed to paying the new minimum wage.”
This is coming after Vice President Osinbajo said in Kebbi State that Buhari promised to take 100 million Nigerians out of poverty in 10 years. Many wonder how the president intends to do this when the country is just coming out of a recession and VAT has just been increased to 7.2 per cent, a move likely to shoot up the price of food and increase inflation.
Buhari’s Social Investment Programme(SIP) consists of the National Home-Grown School Feeding(NHGSF), Tradermoni, N-power and Conditional Cash Transfers.
Through Tradermoni and its brother, Marketmoni, the Federal government has provided soft, non-collateral loans that can be paid back in bits to over 1.1 million traders and artisans.
Under the NHGSF provides jobs for 95,422 cooks, who feed about 9.4 million pupils in 49, 837 schools across the country.
Under the N-power scheme, 500,000 youths have been provided internship placements with government stipends in various sectors including construction, education and technology. Under the CCT, the government has spent N15 billion on N1.8 million vulnerable women across 20 states, enhancing the livelihood of 326,000 households.