A member of Osun House of Assembly, Mr Olatunbosun Oyintiloye says the Federal Government Social Investment Programs (SIP) will lead to the economic stability and recovery in the New Year.
Oyintiloye made the remarks on Wednesday in Osogbo. According to him, the programs will also have a direct impact in the life of the most vulnerable Nigerians. The lawmaker said that the payment of N5, 000 monthly stipends to the poorest and most vulnerable through the conditional Cash Transfer (CCT) in SIP would serve as economic catalyst.
He explained that the implementation of N-Power program in which thousands of Nigerian youths would be paid N30, 000 on a monthly basis would reduce hunger and unemployment in the country.
Oyintiloye (APC-Obokun) said the injection of such fund into the economy would boost the social life of the beneficiary communities, families, individuals and by extension, the nation at large.
“These policies will have multiplier effects on the life of millions of people, improve purchasing power and boost exchange of commodities, ” he said. He commended the Nigeria Inter-Bank Settlement System (NIBSSS) transparency in data collection and disbursement in states, where the program had taken off.
He said such transparency would boost Federal Government sincerity of the program. Oyintiloye called for effective monitoring of the programs in such a way that the goal to empowering Nigerians and bring them out of economic doldrums would not be jeopardized.
The lawmaker urged other states in the country that had yet to benefit from the program to work with stakeholders that would identify the most vulnerable and poorest Nigerians for the program.
4th of January, 2017.