Lockdown: Nigerians Are Hungry, Use BVNs To Pay Stipends Into Their Accounts – Tinubu Advises Buhari

★★★★★★★★★★★★★★★★★★★★★
CLICK TO DOWNLOAD JETHITMUSIK MOBILE APP
★★★★★★★★★★★★★★★★★★★★★

Bola Tinubu, National Leader of the All Progressives Congress, APC, on Wednesday, enjoined the Federal Government to render emergency sustenance relief to Nigerian households in a bid to cushion the effect of Coronavirus also known as COVID-19 on them.

Tinubu said the relief, which should be distributed to households, unemployed should be done via cash payment using their BVNs.

In a lengthy article where he stated his position on the economic stimulus to Nigerians and ideas on revamping the economy Tinubu me, the APC National Leader stressed that such reliefs will help refuse hunger.

According to Tinubu: “With the fiscal latitude provided by lifting the budgetary limit, the government can render emergency sustenance relief to most Nigerian households, especially the recently unemployed, via cash payments.

MUST READ:  2023: God Told Me Igbo President Will Be Killed Or Overthrown – Bishop Udeh

“This will blunt hunger, maintain aggregate demand in the domestic economy and help sustain private-sector markets to the extent possible. Directed towards needy and modest households, such expenditure must be heavily weighted to local produce, not to imports. This will help mute inflation.

The former Lagos State Governor also gave a breakdown on how the government should distribute financial palliatives to Nigerians.

He said:

“Such payments can be done in either one or in a combination of three ways.

First, we can designate a stipend for every household. The amount should be enough to pay for the monthly needs of an “average” household for food and other basics.

Second, the stipends could be given as a form of emergency unemployment insurance to those who can prove they were relieved of employment due to the crisis.

This would be more targeted at the actual victims of the crisis but harder to administer.

This stipend would also have to be extended to owners of small and medium-sized businesses.

“Third, we could render some form of payroll support to companies and businesses that seek to retain workers albeit they may not be fully employed.

The stipend could help companies stay in operation while maintaining workers on their payroll. By maintaining workers, the company can more swiftly return to full operation when normalcy returns.

“Payment of these stipends will require hiring additional government workers to augment the existing bureaucracies to implement this program.

This administrative requirement will help boost employment and aggregate consumer demand.”

Tinubu further stated that payment of palliatives would be easier using BVN of prospective recipients for direct payments into their bank accounts.

“Payments can be made quickly by using the BVNs of prospective recipients to make direct deposits into individual bank accounts.

This will encourage those without bank accounts to establish such accounts.

This process will bring millions of people into formal banking. It will also be safer and not lead to the types of violence and crime that might follow physical cash transfers,” he added.

The post Lockdown: Nigerians Are Hungry, Use BVNs To Pay Stipends Into Their Accounts – Tinubu Advises Buhari appeared first on Naijaloaded | Nigeria’s Most Visited Music & Entertainment Website.


Source: News update

jethitmusik

Next Post

Mp3 Download: Eey Databokiboi – Jara

Thu Apr 16 , 2020
Post Views: 243 28 ★★★★★★★★★★★★★★★★★★★★★ CLICK TO DOWNLOAD JETHITMUSIK MOBILE APP ★★★★★★★★★★★★★★★★★★★★★ After the successful release of PESIN, The Talented Nigerian Artist, Eey Databokiboi comes through again with a brand new record titled Jara. How COMMENT | SHARE | LIKE | TAG | LISTEN | WATCH | DOWNLOAD | CLICK […]
Copyright All right reserved Theme: Default Mag by ThemeInWP