The National Economic Council (NEC), led by Vice President, Kashim Shettima, has decided to replace the national social register implemented under former President Muhammadu Buhari’s administration, citing issues with its credibility.
Instead, the council proposed a state-based cash transfer program and a six-month cash reward policy for public servants.
This decision came as a result of a five-hour council meeting at the state house on Thursday.
The governor of Anambra, Chukwuma Soludo shared with journalists that the NEC has reached a consensus for each state to develop their own social registers.
The registers will be compiled using both formal and informal methods to ensure that all beneficiaries are easily identified at the subnational level.
“We need to face the problem of the fact that we don’t have a credible register,” said Soludo.
The council discussed various measures to alleviate the economic impact of the recent removal of the petrol subsidy.
Soludo revealed that the NEC agreed on the need to pay the outstanding debts owed to public servants, including pensions and gratuities, to ease their financial hardships.
Furthermore, according to Soludo, the council agreed that government funding should prioritize micro, small, and medium enterprises (MSMEs) and offer them single-digit interest rates to encourage business growth.
