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Thu, Mar

COVID-19: Tinibu Calls On Federal Govt To Pay Palliative Through BVN

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The National Leader of the All Progressive Congress (APC), Asiwaju Bola Tiibu has called on the Nigerian government to consider paying Nigerians through their Bank Verification Number (BVN) the current ongoing palliative.

 

Tinibu revealed doing such would make the stipends go round and would ease the hardship being experienced by Nigeria especially during this period of lockdown.

The former Lagos State Governor gave the advice in Lagos on Wednesday at his residence, saying the government can seize the opportunity of the BVN to ease the disbursement.

He opined that the use of the BVN is also safer and more accountable since the money would go directly into individual accounts, adding that this would deepen financial inclusion and encourage even those without BVN to obtain one.

He added, the less-privileged family who has no end means to provide food to the family, these should be the government priority, he noted.

Making such a move would help address hunger, maintain aggregate demand in the domestic economy, Tinibu maintained.

Jagaban in his statement which partly reads;

“First, we can designate a stipend for every household.

The amount should be enough to pay for the monthly needs of an ‘average’ household for food and other basics,”

“While this may somewhat penalise larger families, perfection cannot be had at this time.

“Second, the stipends could be given as a form of emergency unemployment insurance to those who can prove they were relieved of employment due to the crisis.

“This will be more targeted at the actual victims of the crisis but harder to administer.

This stipend will also have to be extended to owners of small and medium-sized businesses.

“Third, the government can render some form of payroll support to companies and businesses that seek to retain workers albeit they may not be fully employed.

“The stipend can help companies stay in operation while maintaining workers on their payroll.

By maintaining workers, the company can more swiftly return to full operation when normalcy returns.”

Meanwhile, Tinibu advocated for the re-establishment of commodity boards for strategically important crops to ensure the supply chain does not cut as well as the price stability.

He also called for the re-activating of Trader-Moni and other programmes would help many small-scale traders “but not the average wage earner who just lost his job”.

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