The Federal Government has revealed plans to extend social security payments to unemployed graduates holding qualifications from the Nigerian Certificate in Education (NCE) and above.
This initiative aims to provide financial support to jobless youths, particularly graduates, in order to alleviate the economic hardships.
Speaking after the Federal Executive Council meeting, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted the government’s dedication to assisting the most vulnerable in society, under the leadership of President Bola Tinubu.
Furthermore, Edun announced the implementation of a social consumer credit scheme, spearheaded by the Chief of Staff to the President, Femi Gbajabiamila. This scheme intends to facilitate access to consumer credit, thereby making essential goods more affordable and stimulating economic recovery.
In addition to these measures, the minister noted the revival of the Social Investment Programme, which will provide direct payments to 12 million households, benefiting approximately 60 million Nigerians. These payments will be disbursed through bank accounts or mobile money wallets, with beneficiaries identified using their National Identity Number and Bank Verification Number to ensure transparency and prevent fraudulent activities.