McSterling:
Will graduating mean getting a job?

YES!
The Op is just illusory.
It's gonna be in batches e.g 20,000 pple would benefit for the first 3 months which would increase subsequently.
However, a beneficiary is expected to graduate within six months (it's not a life programe)
The scheme is to enable the govt to know the cock and bulls and how to incoporate em in the society.

Your assertions are reasonable but the problem of this country still remains corruption. Untill it is rooted out totally from the system then our policies begin to work positively. Whether such exorbitant money is channeled to infrastructural development (which will be handled by certain ministries) or paid to individual unemployed citizen (which will certainly be hijacked by politicians), there wouldn't be any tangible effect. So untill the battle against corruption is fought and won then we can be talking of good governance.

Thatz when it has not being over blotted, I believe that when they start, the figure will skyrocket.
The simple truth is that it can work! If they force it to work, it work be towards no objective.

Amanwulu1:
d scheme cannot wk. My own maths witout consulting a calculator says N100m monthly n N1.2t annually. Even buhari I'm sure knw it's impossible except his blind followers.

I dont believe the N5000 per month is a bad idea but it is just not realistic in Nigeria currently. We do not have the right institution to distribute money. Most of the money will likely end up in the wrong hands and not reach the people it is meant to be for. How would we know if someone seeking the money is even Nigerian, poor or does not already have a job?
Nigeria is also right now currently working on a tighter budget. We should finding ways to cut cost not increase them. If this project would even be viable on the long term, it would require tax payments from citizens.
The money for this project should instead be used to create jobs and develop infrastructure.
20 or 30 years down the road when Nigeria (hopefully) more developed then this proposal should be considered again.

Pope22:
Selected youths? Why sleceted? Which means the number of the youths to be paying this controversial 5k will be like this:
Hausa - 85%
Yoruba -13%
Igbo - 2%

Which means pple like me won't even smell the nonsense.

Exactly but why didn't you include the other regions?

Mr president should nt start wat he can't finish no one knows tomorrow wat of if he did nt make it as president again nxt election do u tnk d nxt president gonna continue wit it.I tnk it will b an unfinished project

must u insult Pple

The critics is a good one and the commenters too have all commented well ..but d problem now is how we can pass dis to the president so he can re announce and withdraw his statement and let Nigerians know that there is a latest development on the issue

eleko1:
Find work to do.dry cleaner,mechanic,baker,Puf puf,nkwobi joint dey there.Do something with Ur hands and God will bless U.stop depending on what ur country will do for U.ARISE/SHINE.If u are in doubt,ask Vickyrotex

eleko1, wetin you want make im ask me?

How to make money kwa?

eleko1:
@ OP.U are so on point.The 5k stipend earmarked for jobless man pickin is dead on arrival.Some peep are already salivating to have a go on the 5k In dis days of Ori malu,ogidiga,Kasalipero,Orijin etc.Vickyrotex,bia com teach yah pipu how to make money

lol. Make dem submit application to you. I'll take it up from there.

I would suggest the 5K be tied getting a job that will pay minimum of another 5K per month, then it becomes a subsidy for businesses that want to expand. That is like subsidizing production of goods and services instead of consumption.

Alternatively, it should be tied as a stipend for cleaning public places, tending parks or attending training in vocational skills centers and for a few months after while searching for a job or setting up a business, such as welding, machining, agricultural practices etc.

Only people who are seriously physically challenged should get the stipend without any conditions

Teempakguy:
Hmm,

I wholeheartedly agree with bidemi.
The money is best invested on infrastructure.
I can assure the government that if there is constant electricity and academic resources, e.g libraries and research labs. Nigerian youths can outperform the whole of Asia combined. We have ideas, but we cannot achieve them because we are constrained.
In fact, I suggest a program in which the smartest youths in various local governments or states are employed as research experts in government owned research facilities. Like NASA. Also, our universities should focus more on research and less on academic work. Unilag can be like MIT. uniben can be like john Hopkins. We can do this thing. We just need a little support





Btw, i believe the total sum is actually 1.2 trillion. Not 120 billion as stated by him.

UI is moving towards that.

Volksfuhrer:


Your macro-economics sucks!

The money is not a waste as some would have you believe. In fact the approach is brilliant!

The capitalism that you alluded to wouldn't have survived without these programmes. The Western economies have their own versions too, so Nigeria need not be an exception.

Let's cut to the chase. If the payments reach their intended targets, the recipients will in all probability spend all of it. Why? 5000 naira is still too little to keep body and soul together for a month. And whatever they spend becomes increased revenue for other businesses within the economy which multiply sales! Imagine the multiplier effect on the economy.

Secondly, parents/guardians who carried the burden of these youth's welfare are also relieved of a part of the burden. What was spent on the youth before can now be channelled into more productive ventures. Which also stimulate the economy!

Mass-based economic stimulation like this cannot but create more employment to further mop up some of these unemployed youths eventually. Since increased effective demand translates to more sales and business growth.

And one more thing, there is a correlation between self esteem and productiveness because of how our mind works. The saying that poverty begets more poverty is not far off the mark. I concede that the project could make some dependent, but it could still get millions of others out of poverty which is huge. After all, everyone of them was already dependent anyway. I believe the payoff would more than compensate for the cost because of macroeconomic effects.

Let's look at the government side. Yes, the government would spend money initially, but the government would later benefit from increased revenue through taxes from the effects of economic expansion.

The Americans started social security to tackle the inherent contradictions within the capitalist economic system. And I believe that if the project is properly executed here in Nigeria, economic benefits would spread to all. You see, concentrating wealth in the hands of a minute few, or marginalizing the greater number of your fellow citizens from wealth truly sucks.

Don't get me wrong, I still agree with you that capitalism rocks; but I put no stock in your ilk of capitalism.

The humble submission of a fellow Nigerian.

I wrote on a frontpage topic about this yesterday:

https://www.nairaland.com/2383313/better-alternative-n5000-monthly-allowance

I disagree with you, don't get me wrong, let's analyze this further.

If you pay N5,000 to about 20 million Nigerians, this will spur or increase producting but most of these would be at the lowest end of the production class. What I mean by this is, with N5,000 you will observe some significant increase in sales for roadside sellers and retailers of foodstuff and provisions, restaurants will witness a small increase, the most people who would witness the most significant sales being recharge card dealers and business centers (Apologies this is a summary without estimate figures)

But from my suggestion in the article I posted on the link I provided, investing this money on businesses will do the following:

1. Create Jobs: each business worth 10 million will be able to employ at least 8 to 15 persons with an estimate pay of 30 to N50,000 salary monthly leading to about 2 to 3 million jobs created annually based on the ripple effect of higher purchasing power of people and business expansion

2. These employees and businesses become taxable so there is a recycle effect of the money invested into the economy. Normally, when you pay N5,000 the only people you would be able to tax are businesses, not the beneficiaries because N5,000 is not enough to start any meaningful business

3. With my suggestion, you stimulate growth in many sectors of the economy including real estate (because more people can afford house and office rent), production factories including those producing for homes (like matrasses, home furniture and accesories), telecom and technology companies (more businesses can afford to put their empoyees on telecom plans for office use), more business and expansion for e-commerce companies including business listing directories who will employ more staff to go into new areas to enlist businesses etc. Banks will also expand to new areas to cater for new businesses springing up within these communities. The list is endless

With my suggestion, in 4 years, you would create not just 10 million jobs but also another 10 million extra jobs within the economy because GSM companies for instance would expand, banks will expand etc. By doing this, you would have also satisfied your objective to pay 20 million Nigerians as well as expand and grow the economy with increased productivity and Internally Generated Renue (IGR)

I would be writing a more comprehensive article on this hopefully in the next few days or so

Cheers!

the OP is a dog in the manger. i dont know why op is worrying himself on luadable welfare system. of course some people lack basic economic theory in sec sch. our sec sch economics taught the followings.
it is a duty of govt to provide welfare system to its citizen
it is duty of govt to redistribute national wealth through tax.subsidy.welfare systen like this one.
it is against the dictactorial and winner-take-all syndrome in capitalist system that karl marx and lenin propounded socialism and communism that plung the world into cold war.
thus this 5000naira payment to the poor is very good economic policy that will help to redistribute our national cake, increase aggregrate purchasing power, increase per capita income, reduces crime, stimulate production due to increase in effective demand. 10bn in 20m hands is far beter than in 10 hands.
please let us support this programme.

RapLawd:




That's my guy... now or never -Eagle's Eye by the Great Julius Caeser...



Buhari and his campaign team didn't do a proper assignment on this before coming out to give us this fables, anyway, the more they look the less they see...



#change!!!

#babaonechance and his cohorts.. we dey watch dem for 3D

swizken6:
#babaonechance and his cohorts.. we dey watch dem for 3D

With our Google plazma eye tv for clear view...



Help support me bro

Volksfuhrer:


...

Let's look at the government side. Yes, the government would spend money initially, but the government would later benefit from increased revenue through taxes from the effects of economic expansion.

The Americans started social security to tackle the inherent contradictions within the capitalist economic system. ...

One thing that people fail to realize is the condition that needs to be met before giving out the NGN5000. If I was in charge of APC, I will give out the NGN5k but require the recipients to file taxes first and the NGN5000 will be the refund given to people that earned below a certain amount even if they earned zero Naira. This will actually be modeled like the Earned Income Tax Credit in the US.

Why pay the NGN5000?
1. You now encourage people to file taxes which could be a way of getting people’s earnings out of the shadows. More IGR.
2. You can now start to compile true residents of states.
3. You can now have accurate census info because it will all be tied to an issued tax ID.
4. It will be harder for politicians to create people out of thin air because they will need to file taxes for each person.

The Earned Income Tax Credit (EITC) is a federal tax credit for low- and moderate-income working people…

Who Is Eligible, and for How Much?
In the 2014 tax year, working families with children that have annual incomes below about $38,500 to $52,400 (depending on marital status and the number of dependent children) may be eligible for the federal EITC. Also, working-poor people without children that have incomes below about $14,600 ($20,000 for a married couple) can receive a very small EITC. In the 2013 tax year, the most recent year for which data are available, over 27 million working families and individuals received the EITC.

The amount of EITC depends on a recipient's income, marital status, and number of children. As the figure shows, workers receive the credit beginning with their first dollar of earned income; the amount of the credit rises with earned income until it reaches a maximum level and then begins to phase out at higher income levels. The EITC is "refundable," which means that if it exceeds a low-wage worker's income tax liability, the IRS will refund the balance.

RapLawd:



With our Google plazma eye tv for clear view...


Help support me bro

no probs bro..

Hero10001:

YES!
The Op is just illusory.
It's gonna be in batches e.g 20,000 pple would benefit for the first 3 months which would increase subsequently.
However, a beneficiary is expected to graduate within six months (it's not a life programe)
The scheme is to enable the govt to know the cock and bulls and how to incoporate em in the society.

This is more feasible. Makes better sense.

Wallie:


One thing that people fail to realize is the condition that needs to be met before giving out the NGN5000. If I was in charge of APC, I will give out the NGN5k but require the recipients to file taxes first and the NGN5000 will be the refund given to people that earned below a certain amount even if they earned zero Naira. This will actually be modeled like the Earned Income Tax Credit in the US.

Why pay the NGN5000?
1. You now encourage people to file taxes which could be a way of getting people’s earnings out of the shadows. More IGR.
2. You can now start to compile true residents of states.
3. You can now have accurate census info because it will all be tied to an issued tax ID.
4. It will be harder for politicians to create people out of thin air because they will need to file taxes for each person.

I truly appreciate your tax perspective on this discourse: it's inventive and brilliant!

The funny thing is I've thinking all day about how best to minimize fraud in this project and block loopholes, not knowing the means to do so would soon reveal itself miraculously in my mention!

Your submission is deep, I just hope APC leaders would eventually get to to read this in time.

I have an idea that could help to sort out of this unemployment saga.The government should pass HSE Practice into law.
1. IF HSE is enforce it implies every company that employ 50 staff must employ 1 safety officer
2. Government will come up with her own hse monitoring team to check for compliance withing the company any company not following the lay down rule will be heavily penalized.
3.If there is any accident in any company , government agent should step up to investigate the accident and see to the root cause of the accident if the company is found guilty due to non compliance they should be made to pay heavy fine for this.
4.Every contractor that want to take any contract either from government or non government , they must provide certificates of there safety personnel and also evident of there safety compliance from there previous project.
5.it will also increase the number of HSE training centers across the country as the number of ppl applying to be trained will increase with speed.
The special thing about HSE is that any graduate of any course of study can actually join up for HSE training and become a professional on the field, this will definitely play a rule in eradicating or reducing unemployment issue in our nation

MY BEST LINE

Baba Kabiru actually embark on social welfare programes such as the O' meal, O' arugbo, O'Yes e.t.c.. It first looks good but the resultant effect is now O'Debt...You don't dish out fish rather, you teach people how to fish themselves thereby making ends meet..

Now am vindicated..... God bless Nigeria

Pope22:
Selected youths? Why sleceted? Which means the number of the youths to be paying this controversial 5k will be like this:
Hausa - 85%
Yoruba -13%
Igbo - 2%

Which means pple like me won't even smell the nonsense.

So no need to include the south south where bulk of the money used to finance this programme will come from?

We are waiting?