Private Sector Led Relief/ Stimulus Program:
To manage the immediate needs and address the fears of so many Nigerians who live below the bread line and earn barely enough to meet their daily needs, I am suggesting a private sector funded relief/ stimulus program:
Take the BVN of all Nigerians, about 40m in all, and extract active accounts that have had a turnover of less than N200k within the last 6 months or with a current balance of less than N20k. These individuals would be given direct relief funds. I suspect that about 5 million account holders fall into this category.
Distributing half of minimum wage (N15k), to 5 million people would translate to N75b. These funds would would cover the majority of those living near or below the bread line, okada riders, street hawkers , Petty traders, market women, vulcanizers, and others.
This would be a first level social security safety net, and act as a stimulus for the economy. The recipients would feel the concern for their welfare and it would be a step towards improving patriotism and ultimately a better society and nation.
Corporate Nigeria, religious bodies and public spirited individuals would be invited to support such an initiative to provide relief/ stimulus funds.
FAA
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