President Bola Tinubu has given directives for the creation of a Social Security Unemployment Programme aimed at providing financial support to unemployed Nigerian youths, easing economic hardships. The announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a press briefing at the State House in Abuja after the Federal Executive Council (FEC) meeting presided over by President Tinubu.
Amidst heightened food prices and economic challenges, President Tinubu has committed to taking actions that can alleviate the financial burden on the most vulnerable. The Social Security Unemployment Programme, as directed by the President, is intended to cater specifically to unemployed youths and graduates, contributing to societal well-being.
Mr. Edun stated, “So, we have coming, in the nearest future, an unemployment benefit for the young unemployed, in particular.” This initiative reflects the government’s commitment to supporting the youth and addressing unemployment concerns, with a focus on providing financial assistance during challenging economic times.
Additionally, the Minister highlighted plans for the establishment of a Consumer Credit Scheme as part of broader efforts to alleviate the economic adjustment pains faced by citizens. This Social Consumer Credit Programme aims to provide further assistance and support to those who may be adversely affected by economic changes.
In emphasizing the government’s empathy towards citizens, Mr. Edun conveyed that these measures are designed to address the challenges faced by those who are less well-off and to ease the overall impact of economic adjustments. Observers say the Social Security Unemployment Programme and the Consumer Credit Scheme represent proactive steps towards creating a more inclusive and supportive economic environment for Nigerians.
