• Business - Economy
  • Updated: October 01, 2020

Independence Day: President Buhari Speaks On N-Power, Tradermoni, Farmermoni, Others

President Muhammadu Buhari said the creation of N-Power, Tradermoni and some social intervention programmes were created for the "weakest" Nigerians. Buhari explained that the social intervention programmes were created to cushion the impact of any economic adjustment by his administration.

Buhari said the Tradermoni, Farmermoni, and other lower-class support initiatives like N-Power have been maintained over the years despite the revenue problem of Nigeria or scarcity of resources. The President made this known in his October 1 Independence Day speech to Nigeria.

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He said previous administrations had failed to initiate such intervention programmes that support the "weakest" members of the Nigerian society, but his government created the programmes because the outcry about the economic impact on poor households weighed heavily on his administration.

"The government, since coming into office has recognized the economic argument for adjusting the price of petroleum. But the social argument about the knock-on effect of any adjustment weighed heavily with the government.

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"Accordingly, in the last 3 years, we have introduced unprecedented measures in support of the economy and to the weakest members of our society in the shape of; a. Tradermoni, b. Farmermoni, c. School Feeding Programme, d. Job creation efforts, e. Agricultural intervention programmes.

"No government in the past did what we are doing with such scarce resources. We have managed to keep things going inspite of the disproportionate spending on security," President Buhari said in his speech to Nigerians.

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Olalekan Fakoyejo
Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ)....

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