Edun, revealed this in an interview with
Channels TV, saying the federal government's reforms will rectify the economic
imbalances that disproportionately favour a small group of elites in the last
eight years over the majority of citizens.
He further remarked that the aim of
microeconomic reforms is to ensure government revenue is directed into the
government’s treasury.
“There has been an effort to ensure that
the people’s money is not in the hands of a few. And on that point, I must
emphasize that when we talk about the last eight years before Mr. President
came to power, there was this liquidity built up
“The Issue was that the funds were going to
a few. Only about 5% of the population have bank accounts that have more than
half a million in them. So, the majority was left out for eight years. They are
on the sidelines while a small minority enjoyed."
“That is the major correction being made by
Mr. President now. That is the major microeconomic reforms that have put in
place.
“So therefore, government revenue that was
outside the federal government consolidated revenue funds have been brought
back to the government funds,” Edun said.
He added that president Tinubu is working
to ameliorate the poverty of the masses as well as the high cost of living by
providing a palliative package of N25,000 to N15 million households for the
next three months.
“Food prices have gone up and the people’s
purchasing power is limited and that is what Mr. President is speaking to
through the intervention programmes of direct payment of N75,000 each over
three months. That is, N25,000 a month to 15 million households.
“And each household is about 5 people and
that is effectively providing funding for N75 million people.
“That programme has been revamped to make sure that it is robust, that each
beneficiary will have a NIN number or BVN number or access to mobile money
account so that we are sure that the right people are paid and the system is
fraud-free.”
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