My attention has been drawn to statements credited
to the vice president, prof. Yemi Osibanjo over the
weekend that the Buhari Administration have
ongoing plans to implement one of its striking
campaign promises that it will pay N5000 each to the
poorest Nigerians across the country monthly.
This is not good for our democracy. In the interest of
the Nigerian economy, this campaign promise like
that of making 1 Naira equal to $1 and stabilizing
world oil prices be dropped.
Social welfare programmes are good but I don't think
this one is feasible, not when we dont have good
records in Nigeria, most of the very poor that would
need this policy are in deep villages and not when the
number of unemployed is more than the employed.
The Government have been complaining on spending
too much on re- recurrent expenditure, so why add
to it?
Let's assume we have 20 million poor unemployed
persons. Paying N5,000 to each person translates to
N100bn every month and N1.2 trillion per annum.
That is about 20% of our National budget .
Constructively, I would call on the government to
invest this over 20% of our budget on developmental
projects that would have much direct effects on the
citizens.

May almighty continue to bless you and the entire nigerians. Haters go hug transformer or lydown on 3rd mainland bridge


B4 I forget, na me dis-Virgin you and you are mine forever.

oga Op thats what i personally call Stagnant thinking.... next time think out of d box b$ u criticize moves.

THINK OUT OF THE BOX!

YAWNING

D op dey smoke

OP I completely agree with your opinion. Paying N5,000 monthly to millions of unemployed persons would amount to a waste of government resources in the short and long term.

N5,000 monthly makes absolutely no sense to our economy of today. It cannot even sustain a Nigerian youth for a month based on today's cost of living.

Here is my suggestion:

Government should rather invest this money into the economy in a way that will employ a youth and pay him up to 30,000 to N50,000 monthly. How?

Let's get to the drawing board here:

N100 billion naira can fund up to 10,000 businesses monthly with about N10 million naira each, who can employ between about 10 people each, thereby creating up to 100,000 or 150,000 jobs monthly. This makes it possible for most Nigerian graduates to focus on starting their personal businesses and creating undergraduate jobs, instead of endlessly looking for jobs themselves. This also ensures that beneficiaries of this project get to pay tax to government, thereby increasing government's internally generated revenue. How much would you tax someone who earns N5,000 monthly when you can invest in a business that pays that person up to N50,000 monthly and then tax them?

Security For The money

In order for graduates to benefit from the business empowerment project, government needs some form of security, and they already have it, Yes, the Bank Verification Number (BVN). This ensures that your identity is known and you don't run to another bank and deposit the money to enjoy a personal life rather than what it was meant for.

Just like the Social Security Number is used to track everything you do in the US, our Government, with time and policy implemenation, would be able to use our National Identity Number to quickly create a central identification system where your identity is tied to your Bank accounts and everything you do including renting a house, getting a job, doing business, contesting public office, obtaining a passport, enrolling in college etc. Usually when you want to do any of the above mentioned, a background check is conducted to check your financial as well as any violation or criminal history because all these records are usually domiciled with security agencies.

What Are The Benefits of This Project?

1. With this business empowerment programme, government will be able to stimulate and grow the economy through the private sector, this means, more employment generation through private sector businesses than directly from government

2. Government will be able to fulfill its promise to Nigerians to create millions of jobs annually

3. Government would be able to greatly boost its internally Generated Revenue through taxes both from businesses and employed persons

4. More businesses in Nigeria will survive because when more people have purchasing power, businesses can thrive and more will come up

5. Boost Technology and Agriculture. When more businesses in Agric and Technology are empowered, then other sectors in Nigeria will grow because e-commerce will become a vital part of our development while agriculture will feed the nation and encourage export

You will beg to get that 5k. You won't even bother when you will see the stress.

Which one did Jonathan did for you that had a direct effect on you

The one wey go get negative effect nko