Vice President Yemi Osinbajo has reiterated the commitment of the President Muhammed Buhari administration to implement one of its striking campaign promises that it will pay N5,000 each to the poorest Nigerians across the country monthly.
Osinbajo, who spoke at who at the 10th Anniversary Lecture of Crescent University, Abeokuta, Ogun State entitled, ‘The Nigerian Economy and the Future’, said government is “currently evaluating the best ways to collapse existing cash transfer and social welfare schemes to ensure consistency and alignment.”
According to him, “Once this is completed, we will implement the first phase of this programme, using recognised identification platforms and transparent payment solutions.”.
The vice president said the federal government has identified the weak transmission of electricity from the national grid, which prevents the generation of more than 5,000 megawatts as one one the key constraints to effective power supply in the country.
While deploring the pervasive poverty in the country, Osinbajo expressed displeasure about the pervasive poverty in the country.
He said that “about 112 million (66% of Nigerians) are deemed extremely poor, measured by the World Bank parameter of those living on less than US$1.25 per day,” saying that it links to much of the Nigerian situation because it affects all aspects of life, including why over a million Nigerians die yearly of preventable diseases.
“It reflects in our alarming rates of infant mortality and maternal deaths at childbirth.
It also tells why so many children of school age are out of school and why so many adults lack access to healthcare and proper vocational training; why, in effect, they are less efficient and less productive at work”, he said.
While dwelling on the consequences of the Nigerian predicament, Osinbajo said that while many public servants are being owed arrears of salaries across the country, many traders are experiencing a downturn in sales.
“Artisans abound, whose businesses cannot thrive without power supply and many of our youths are searching in vain for employment”, he said.
Osinbajo also assured Nigerians of the administration’s commitment to improving the supply of gas to power plants, which will ensure sufficient gas supply that will help maximise the 13,000megawatts of generating capacity.
