TO CUT COST OF GOVERNANCE, FEC OKAYS IMMEDIATE IMPLEMENTATION OF ORONSAYE REPORT
Nigerian Institute for Trypanosomiasis to be subsumed into the Institute for Veterinary Research; the National Medicine Development Agency to be subsumed under the National Institute for Pharmaceutical Research and Development. The National Intelligence Agency Pension Commission to be subsumed under the Nigerian Pension Commission.”
The special adviser to the president on policy and coordination also stated, "For agencies to be relocated, the Niger Delta Power Holding Company to be relocated to the Ministry of Power; the National Agricultural Land Development Agency to be relocated to the Federal Ministry of Agriculture and Food Security; the National Blood Service Commission to be converted into an agency and relocated to the Federal Ministry of Health; the Nigerian Diaspora Commission to be converted into an agency and to be relocated to the Federal Ministry of Finance."
Edun disclosed that the president had directed the design of a social security unemployment programme aimed at providing an economic lifeline to the unemployed.
He stated, “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 youth, 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.”
Similarly, Edun said there would be a consumer credit scheme to alleviate the pains of the current economic reforms.
He explained, “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."
Edun also spoke on the review carried out by the special presidential panel on the National Social Investment Programme (NSIP), which has submitted a preliminary report to the president.
He said the president gave the highlights of the report to the council meeting, stating that what was done was “a review of the existing mechanisms, a review of the existing programmes, and where there have been successes, such as the 400,000 beneficiaries of the Geep programme, and so on and so forth.
“Those have been identified and recognised. School feeding programme is another example of relative success. And whilst there is still some further work to be done, particularly, as regards availability of the financial data, which is still being looked at, the interim report has been submitted and a key recommendation of the panel was that, especially given the heightened, limited household purchasing power at this time, rising prices, particularly elevated food prices, it's important to restart the programme.
“So, the direct payments to 12 million households, comprising 60 million Nigerians, is to resume immediately with the important proviso that every beneficiary will be identified by their national identity number and the bank verification number.
“Therefore, payments will be made into bank accounts or mobile money wallets. So, whether it is before or after, there is verification of the identity of beneficiaries.
“Each person that receives 25,000 Naira for a total of three months will be identifiable, even after they have received the money, it will be clear who it went to and when it went to them. And that is the big change that has allowed Mr. President to approve the restart of the direct payments to beneficiaries programme."