The federal government has concluded arrangements to distribute N75,000 in cash to 70 million Nigerians in a bid to cushion the effects of hardship.
Senior Special Assistant to the President on Public Affairs, Hon. Aliyu Audu, in a statement on Sunday, explained that the gesture aligns with President Bola Ahmed Tinubu’s administration’s determination to address the growing poverty in the country.
Audu, who is also the convener of the APC National Stakeholders Forum and APC Rebirth Movement, as well as a past APC Transition Committee member, stated that Tinubu had provided sufficient evidence of performance in just 19 months in office.
He also noted that debt obligations are being met to preserve Nigeria’s corporate integrity among nations.
According to Audu, about 23 per cent of foreign reserves have surged into the country, amounting to $7.69 billion in one year (Year on Year) due to the effective monetary and fiscal policies of the Central Bank of Nigeria and the Federal Government.
He argued that while CBN’s benchmarked interest rate management incentivized foreign exchange inflows, the federal government’s improved activities in the non-oil sector and its boosted oil production have transformed fiscal earnings into its coffers.
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