N5,000 Stipend World Bank, Bill Gates to help FG with payment system

Akande said the payment will commence as soon as the budget is approved, adding that N60b will be paid to about 1 million extremely poor Nigerians.

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Mr. Adeolu Akande, the Senior Special Assistant, Media, to the Vice President, Yemi Osinbajo, announced that the World Bank and Bill Gates Foundation will help the Federal Government develop a payment system for the N5,000 stipend disbursement.

Vanguard reports that Akande said this while revealing details on how the government plans to spend N500 billion on its social welfare programme.

He said the payment will commence as soon as the budget is approved, adding that N60b will be paid to about 1 million extremely poor Nigerians.

Akande also said 500,000 direct jobs will be created for unemployed graduates who wish to volunteer as teachers in various communities.

He said “The recruitment of beneficiaries into the volunteer teaching jobs and the skill acquisition training scheme for non-graduates would be done on state basis, including the FCT and opened to all Nigerians of different shades.”

Also, the Federal Government through the Bank of Industry will give N60,000 loan to small scale businesses as micro credit.

Read: ‘No corrupt person will go free,’ Vice President says

He also stated that “Even economic historians now say that not only is the half a trillion Naira vote unprecedented, but it is also the greatest service ever done to the Nigerian state and people by any federal government administration.”

Adding that the government will pay tuition for 100,000 students studying Science, Technology, Engineering and Mathematics, as part of the free education plan.

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