The Oluwo of Iwoland, Oba Abdulrosheed Adewale Akanbi, commended the $3.27 trillion palliative intervention led by President Bola Ahmed Tinubu’s federal government to cushion the effects of subsidy removal on Nigerians.
The monarch made this commendation in a statement released by his press secretary, Alli Ibraheem.
He said, “I commend the federal government’s courage in checking wastage and boldly confronting organised crime.
The $3.27 trillion palliative will be a huge relief from the hardship inflicted by subsidy removal. I have strong hopes that Nigeria’s economy will flourish beyond imagination, and Nigerians will smile again.”
“Trillions of naira will be pumped into different facets of our economy, including transportation, agriculture, manufacturing, micro, small, and medium-sized enterprises, with the informal sector included, and conditional cash transfers of #25,000 to 15 million households.”
“Equally, I charge the beneficiaries of the cash transfer to make judicious use of the fund. The grant is not meant for a materialistic lifestyle.
Even though it might seem small to some, it is a significant amount for small traders that can be converted and multiplied if used judiciously.”
Oba Akanbi described the palliative intervention as necessary, noting that it will relieve the masses and rejuvenate Nigeria’s struggling economy.
It could be recalled that the federal government announced $3.27 trillion in palliatives last Monday to alleviate the hardship brought about by subsidy removal for Nigerians.
This includes a conditional cash transfer of #25,000 to 15 million households for three months, #100bn to acquire 3,000 units of 20-seater CNG-fueled buses, #200bn to boost agriculture, #75bn for manufacturers, and #125bn for micro, small, and medium-sized enterprises and the informal sector.
Oluwo urged the beneficiaries of the cash transfer to abstain from lavish and material spending and to utilise the money judiciously.
He further expressed optimism in the current administration’s commitment to alleviate suffering and bring smiles to the faces of the masses.
Oba Akanbi rallied support for the current government, stating that their policy formulations and implementations offer hope for people of all social strata.
He also urged the federal government to concentrate on skills acquisition by Nigerian youth in prospering sectors such as solar power, Information and Technology (ICT), construction, etc.
He cited it and asked the government to invest in the innovation of the Elite Solar Kiosk as an alternative to power supply to empower Nigerian youth.
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