FG to pay graduates unemployment benefits, launch consumer credit programme

In a bid to address the challenges of unemployment among Nigerian youths, the Federal Government has unveiled plans to expand its social security payments to include graduates holding qualifications from NCE level and above. This initiative, announced by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, aims to provide stipends to unemployed youths, offering crucial purchasing power amidst soaring food prices.

Speaking to journalists after the Federal Executive Council meeting, Minister Edun emphasized President’s commitment to supporting the most vulnerable, particularly in times of economic strain. He revealed that the government is working on implementing an unemployment benefit program tailored for young graduates and the broader society.

Furthermore, the government is set to introduce a consumer credit scheme to mitigate the impact of economic adjustments. A committee led by the Chief of Staff to the President, Femi Gbajabiamila, alongside the Minister of Budget and Economic Planning, the Attorney-General of the Federation, and the Coordinating Minister of the Economy, will spearhead this initiative, ensuring swift implementation to alleviate economic pressures.”