Nigerian Government set to pay the poor and employ all graduates

Nigerian Government set to pay the poor and employ all graduates

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– Nigerian Government set to pay the poor and employ all graduates

– The poor to be paid #5,000 while the unemployed graduates would become teachers

– The bill has not be signed by the President

Nigerian Government set to pay the poor and employ all graduates
The poor in the Nigeria

Nigerian Government set to pay the poor and employ all graduates

Nigerian Government set to pay the poor and employ all graduates

The Nigerian government plans to make cash payments to poor people of about $25 per month to try to ease poverty and stimulate the economy.

The vice-president of the country Prof Yemi Osinbajo said that the plan would cost a total of about $300 million per annum.

The president of the country President Muhammadu Buhari won election in March 2015 on a promise to “fight poverty and corruption”.

This corruption and poverty has held 95% of most Nigeria’s under its spell. The country holds a population of 180 million people in poverty despite its oil wealth.

According to PM news, “One million poor and vulnerable Nigerians would receive 5,000 naira ($25) monthly,” Vice-President Yemi Osinbajo said in a statement outlining government priorities for the next 12 months.

Nigerian Government set to pay the poor and employ all graduates
A typical poor society in Nigeria. 90% of Citizens are poor

Nigeria’s annual per capital income in 2014 was about $3,200 according to the World Bank.

The government will also employ 500,000 graduates as voluntary teachers while they seek jobs in their chosen careers, he said.

These initiatives were part of the Presidents election campaign. The former military ruler has come under pressure in recent weeks due to fuel shortages.

Nigerian Government set to pay the poor and employ all graduates
All unemployed Nigerian youths to become teachers.

The economy, is also suffering from the global slump in oil prices. Queues increases as every passing day becomes a living hell for citizens of the country.

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A lot of individuals have resulted to parking their vehicles at home and use the public transport as a means of easy conveyance to their respective place of work.
Osinbajo did not say how these benefits would be funded, saying only that it was part of the 6.06 trillion Naira record budgets for 2016 which the parliament passed last month. Although, the president has not signed the bill to become a law for Nigerian Youths

The government has said it wants to borrow the sum of $5 billion abroad but has not detailed how it wants to plug a budget deficit which officials have put in the range of between 2.2 trillion and 3 trillion Naira.

Buhari has rejected a devaluation of the Naira, which would hit poor people as Nigeria needs to import much of its food needed.