In a bid to ease the burden of economic hardship, the federal government has announced plans to distribute N75,000 in cash to 70 million Nigerians. This initiative is part of President Bola Ahmed Tinubu's administration's efforts to alleviate the rising levels of poverty across the country.
Hon. Aliyu Audu, Senior Special Assistant to the President on Public Affairs, revealed the plan in a statement on Sunday. Audu explained that the distribution was in line with the administration's commitment to addressing the challenges faced by Nigerians in the current economic climate.
Audu, who also plays a leading role in the APC National Stakeholders Forum and APC Rebirth Movement, highlighted that Tinubu’s policies over the past 19 months have had tangible, positive effects both domestically and internationally. He noted that the administration’s actions have resulted in a significant increase in foreign portfolio investments, marking a strong turnaround for the Nigerian economy.
The government has also managed to meet debt obligations, preserving the nation’s financial credibility on the global stage. According to Audu, Nigeria's foreign reserves have increased by 23% in one year, amounting to $7.69 billion, thanks to the effective fiscal and monetary strategies implemented by both the Central Bank of Nigeria and the federal government.
Audu pointed out that fiscal improvements have been observed at the state and local government levels, with allocations seeing notable increases. This has enabled more prompt payments to local contractors and has contributed to falling food prices, a result of improved security allowing farmers to access their farmlands more safely.
Additionally, the government's focus on agriculture has led to the delivery of 255 tractors, which are being distributed to farmers to mechanize and improve productivity. As a result, food surpluses are expected in the near future.
The repatriation of $52.88 million in looted funds from the United States also earned praise from Audu, who noted the government's ongoing efforts to recover misappropriated funds. He called on APC supporters to engage more Nigerians and advocate for the continued implementation of Tinubu's people-focused policies ahead of the May 2025 elections.