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Expert urges FG to stabilise Naira to reduce poverty

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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 our reporter 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.

It was reported 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, National Association of Small and Medium 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.

Simon Akoje

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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