President Bola Tinubu has approved a program named Social Security Unemployment Programme, which aims to provide financial support to unemployed youths to alleviate economic difficulties.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this announcement on Monday during a press briefing at the State House in Abuja, following the Federal Executive Council (FEC) meeting chaired by President Tinubu.
“At this period of heightened food prices, Mr. President has committed to doing all that can be done to assist in giving purchasing power to the poorest and in that line, he has committed and instructed that the social security unemployment programme be devised, particularly to cater for the youths, for the unemployed graduates, as well as the society as a whole. So, we have coming, in the nearest future, an unemployment benefit for the young unemployed, in particular.”
The Minister also mentioned plans are being developed for the establishment of a consumer credit scheme aimed at easing the challenges of economic adjustment.
“Finally, all in the same line, to emphasise that there is empathy. And there is feeling for those who are less well off, or feeling particularly the pains of this adjustment, there is coming a social consumer credit programme.
“So, by making consumer credit available, of course, goods become more affordable, the economy even gets a chance to revive faster, because people have purchasing power that allows them to order goods, products,”
