Dr. Ayo Teriba, Chief Executive Officer of Economic Associates, has urged the Federal Government to further stabilise the Naira to reduce poverty among citizens.
Teriba said this in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos.
He said this following government’s plan to ameliorate citizen’s economic situation by distributing N75,000 to 70 million families.
NAN reports that the Minister of Humanitarian Affairs and Poverty Reduction, Prof. Nentawe Yilwatda, announced that the fund would be distributed to the ‘poorest of the poor’ Nigerians.
Yilwatda said the ministry would deploy the programme across the 36 states, targeting the registration of up to 18.1 million Nigerian households through the National Identity Number (NIN) system.
Teriba warned that the plan was unsustainable as it could worsen the country’s fiscal condition.
“The government should seek ingenious ways and sell some state assets to buffer the country’s foreign reserves to strengthen the value of the Naira.
“This will enhance citizen’s real income and improve the living standard of the generality of the people without issuing them palliative,” Teriba said.
Also, Mr Nerus Ekezie, Former Director, the National Association of Small and Medium Scale Enterprises (NASME), urged the government to encourage more people to embrace entrepreneurship and fund them to enhance their economic status.
Ekezie said this was a more reliable approach to tackling economic hardship and improving the welfare of citizens. (NAN)
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