- The federal government plans to distribute N75,000 to 70 million Nigerians to alleviate economic hardship, aligning with President Tinubu’s initiatives
- Senior Special Assistant Audu highlights significant economic reforms, including a 23% increase in foreign reserves and improved agricultural support
The federal government has finalized plans to distribute N75,000 in cash to 70 million Nigerians to ease citizens’ economic hardship.
This was disclosed on Sunday by Hon. Aliyu Audu, Senior Special Assistant to the President on Public Affairs. According to Audu, the initiative aligns with President Bola Ahmed Tinubu’s commitment to addressing poverty and improving living standards nationwide.
Audu, a prominent figure in the APC National Stakeholders Forum and APC Rebirth Movement, highlighted Tinubu’s achievements during his 19 months in office.
He noted that bold economic reforms under Tinubu’s administration have attracted significant foreign investments, boosted economic growth, and improved Nigeria’s global financial standing.
The statement revealed that Nigeria’s foreign reserves have increased by 23%, amounting to $7.69 billion year-on-year, thanks to effective fiscal and monetary policies led by the Central Bank of Nigeria (CBN) and the federal government.
Audu emphasized the impact of CBN’s interest rate management, which has incentivized foreign exchange inflows. He also credited improved non-oil sector activities and increased oil production for transforming government revenue.
At the state and local government levels, federation allocations have sometimes seen triple increases, enabling timely payments to contractors. Additionally, food prices are reportedly dropping as farmers gain better access to their farms due to enhanced security efforts.
The government’s agricultural initiatives include the delivery of 255 tractors to farmers aimed at mechanizing and modernizing farming practices. Audu predicted food surpluses shortly, driven by these interventions.
He also applauded the repatriation of $52.88 million in looted funds from the United States, describing it as a testament to the administration’s commitment to transparency and accountability.
As President Tinubu approaches his second year in office in May 2025, Audu called on APC stakeholders to engage Nigerians and promote the administration’s people-centred policies.