The federal government is set to distribute N75,000 cash payments to 70 million Nigerians as part of efforts to mitigate the effects of economic hardship and reduce poverty across the nation. This initiative is in line with President Bola Ahmed Tinubu’s commitment to alleviating the struggles faced by citizens and addressing the country’s growing poverty levels.
In a statement on Sunday, the Senior Special Assistant to the President on Public Affairs, Hon. Aliyu Audu, explained that this move reflects the administration’s dedication to improving the lives of Nigerians. Audu, who is also the convener of the APC National Stakeholders Forum and APC Rebirth Movement, highlighted the President’s impressive track record of achievements within just 19 months in office.
Audu praised Tinubu’s transformative economic policies, which have not only bolstered confidence domestically but also attracted significant foreign portfolio investments. According to Audu, the country has witnessed a 23% surge in foreign reserves, amounting to $7.69 billion year-on-year, due to the administration’s effective monetary and fiscal strategies.
The federal government’s collaboration with the Central Bank of Nigeria (CBN) has also played a crucial role. The CBN’s strategic management of benchmark interest rates has encouraged foreign exchange inflows, while increased non-oil sector activities and boosted oil production have significantly improved the nation’s fiscal earnings.
Read also: Gov. Fintiri commends army for enhancing security, unity in Adamawa
Audu noted that the ripple effects of these policies extend to state and local government levels, where federation allocations have seen a dramatic increase, in some cases tripling previous figures. This has empowered local governments to settle contractor debts and improve public services. Farmers have also benefited from enhanced security measures that have improved access to farmland, resulting in falling food prices and the promise of food surpluses.
The administration’s focus on agriculture is further evidenced by the delivery of 255 tractors to farmers, marking a significant step toward mechanizing the sector and boosting food production. This initiative underscores Tinubu’s commitment to sustainable economic growth and food security.
In addition to economic reforms, Audu lauded the government’s efforts in recovering looted funds, citing the repatriation of $52.88 million from the United States. He called on APC promoters to intensify public engagement and highlight Tinubu’s people-focused policies as the administration approaches its second year in office on May 29, 2025.
