The Federal Government has started the process of fulfilling its promise to pay N5,000 monthly allowance to 25 million unemployed youths in the country with 2016 as the take-off date, Punch reveals.
The Senate had initially rejected the idea, after President Muhammadu Buhari-led Federal Government decided to fulfil the campaign promise of paying the unemployed youths it made earlier this year.
Despite the rejection by the Senate, Federal Government has commenced plans to start the payment of the allowance while it had also taken steps to capture the free school feeding programme in the 2016 budget.
It was further learnt that the government had saddled some officials with the task of ascertaining the number of the unemployed youths, who would benefit from the scheme.
A top government official, who spoke on condition of anonymity on Monday said:
“You know that if the scheme is left open-ended, even Nigerians, who are employed and are by no means vulnerable, will still struggle to benefit from it.
“You also know that if not properly handled, politicians will hijack the scheme and it will become a means of settling their constituents, whether they qualify to benefit from it or not.
This is why the government will come up with data on the beneficiaries very soon.”
The source added that the fund meant for the scheme would be built into the 2016 budget.
According to analysis, the cash transfer programme, when fully implemented, will cost the Federal Government N125bn monthly and a total sum of N1.5tr annually.
The question I keep asking myself is how effective will the payment of this N5k be in helping these unemployed youth? If N.1.5 trillion is diverted into looking for ways to create jobs yearly, wont it go a long way and create better results in the long run? Isn’t this just a short term solution to a long term problem? Me I don’t really know about this 5K o, if it will really help Nigerian youths. Just saying.