The Nigerian government has planned to make cash payments to the poor of about $25 per month in order to ease poverty and stimulate the economy. The Vice-president, on Thursday said the plan would cost a total of about $300 million per annum.
The Vice-President, Yemi Osinbajo in a statement said, "one million poor and vulnerable Nigerians would receive 5,000 naira($25)monthly."
He also revealed that the the government will employ 500,000 graduates as voluntary teachers while they seek jobs in their chosen careers.
The government made it known that it wants to borrow as much as $5 billion abroad but has not disclosed details of how it wants to plug a budget deficit which officials have put in the range of between 2.2 trillion and 3 trillion naira.
President Muhammadu Buhari has rejected a devaluation of the naira, which would hit poor people as Nigeria needs to import much of its food needs.
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