The National Economic Council that was led by Vice President Kashim Shettima in Abuja, Wale Edun, the Minister of Finance and the Coordinating Minister of the Economy, shared some important information. He discussed the measures that the federal government is implementing to help lessen the impact of the recent removal of the fuel subsidy.
The minister highlighted that as part of these efforts, five million households have already received direct cash transfers to support them during this transition. He also mentioned that in just the last five days alone, around 11,000 individuals have been able to benefit from the consumer credit scheme, receiving a total of ₦3.5 billion. This amounts to a significant level of financial assistance being provided in a short period.
ALSO READ: Blue Economy Minister appoints Kingsley Igwe, CRFFN registrar
Additionally, Edun pointed out that more than ₦90 billion has already been distributed to approximately half a million Nigerian students through the student loan scheme. This financial aid is intended to support students in their educational pursuits and reduce the financial burdens they may face. Overall, these initiatives reflect the government’s commitment to providing support and assistance to its citizens during this challenging time.