ENUGU, Nigeria (VOICE OF NAIJA)- The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Federal Government of Nigeria is planning to give artisans, traders, women, and youth, a grant of N50,000 to start nano businesses to improve productivity.
Edun disclosed this while speaking during an exclusive interview on Channels Television.
He said, “In this particular case there will be digital verification, just like with the direct payments, direct transfer procedure and in this particular case, it will cover at least 1000 people in all 774 local governments.
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“So that programme will now be another N50 billion. The important thing is to know that to the extent that this is the most direct way to help people at this time, it can be expanded it can be continued until we find a more stable environment in terms of food production, food prices, and affordability through increased spending power of the poor people.”
According to him, the reason for the economic situation at the moment is as a result of eight years of a buildup of money supply, liquidity in the system, and money which was not matched with increased production.
For him, the microeconomic put in place would go a long way to provide relief, as technology would be deployed to ensure payments and revenues paid would go directly to desired places without any intermediary.