President Bola Tinubu has approved the National Construction and Households Support Programme, NCHSP, to pep up the economy.
This was contained in a statement by the spokesman to the President on media, Ajuri Ngelale on Thursday.
According to Ngalale, Tinubu gave the approval during the National Economic Council meeting on Thursday in Abuja.
He said the programme is aimed at boosting agricultural productivity, strengthening the economy, and providing immediate economic relief for Nigerian households.
Ngelale stated that the programme, which was supported by the NEC, includes financial allocations and infrastructure projects across all geo-political zones in the country.
The spokesman added that a key component of the programme is the approval of the N50,000 uplift grant. Which will be distributed to 100,000 families per State for three months.
Ngelale also added that another N155 billion was earmarked for the purchase and distribution of assorted foodstuff across the nation. This, he said, is to address concerns about food security and affordability.
According to him, the programme will also cater to infrastructure projects that include the Sokoto-Badagry Highway. The project which will traverse seven States, is considered key for agricultural sustainability of the country. He added that the States along this axis form the food belt of the nation.
Other infrastructure initiatives in the programme, he said, include the ongoing Lagos-Calabar Coastal Highway and the Trans-Saharan Highway.
According to him, President Tinubu approved the full counterpart financing for the Port Harcourt-Maiduguri Railway. Also approved was the Ibadan-Abuja segment of the Lagos-Kano Standard-Gauge Railway.
Ngelale added that the NEC also approved the allocation of N10 billion to the 36 States and the Federal Capital Territory. The fund is for the procurement of buses and implementation of the Compressed Natural Gas, CNG, uplift programme.
He revealed that provisions were also made for labour unions and Civil Society Organizations, CSOs.
Ngelale stated that Tinubu, also urged State Governors to collaborate in meeting the needs of citizens and boosting food production in the country.
“Our States must work together to deliver on the critical reforms required of us to meet the needs of our people. Time is humanity’s most precious asset. You can never have enough of it. It is getting late.
“We are ready and able to support you in the form of the mechanization of your agricultural processes. And also, in the provision of high-quality seedlings.
“We are prepared to provide solar-powered irrigation facilities to support our farmers across seasons, but we must now produce. We must produce the food our people eat. And this will require coordination and intentionality between members of the National Economic Council (NEC),” he said.
source: Vanguard
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