N5,000 monthly won’t take any body out of poverty, Peter Obi to president Buhari

N5,000 monthly won’t take any body out of poverty, Peter Obi to president Buhari

The former running mate to Atiku under the auspices of  the people democratic party PDP, in the last general elections Peter Obi has criticized the federal government strategy of lifting 24 million people out of poverty line.

The ex governor said the program has failed, even before it was initiated. Obi, who spoke on Tuesday on a morning program in Arise Television called “ The morning show” .

He said the planned N5,000 disbursement to 24 million people for six months will not pull out the targeted citizens by the federal government from the poverty line as projected by the federal government.   

He said a person should be earning $1.9, which is equivalent to N800 per day, when multiplied by 30 day that makes a month it will amount to N24,000.

He said the federal government should come up with a reliable program that will alleviate the suffering of the people, he noted that given N5,000 a month when the person needs at least N24,000 to survive, would have a little or no effect, needless pulling them out of poverty.

 “Now, if you divide N5,000 by N400 exchange rate, it will give you $12.50. When you divide $12.50 by 30 days, it gives you (U.S) 42 cents. So, by sharing N5,000 per month to them, you are only giving them about 20 per cent of the $1.9 they require to live above poverty. Worse still, you are only paying them the money for six months.

“Any government that desires to pull its people out of poverty should adopt a properly articulated fiscal and monetary stimulus to support micro, small, medium enterprises and provide jobs that will pay people at least N25,000 per month,” Obi said.

Leave a Reply

Your email address will not be published. Required fields are marked *

copyright 2020, Africa Giant news Magazine || Contact: info.africagiantnews.com.ng

Enjoy this blog? Please spread the word :)