Business Hilights

Tracking Nigeria's Headline Business News Online

Gov Obiano

Obiano stimulates state economy with N1b social investment scheme

Ad 2
Ad 3

As part of efforts to further stimulate the economy of Anambra by way of creating jobs and encouraging startups, the Anambra State Government has set aside N1 billion in the 2017 budget for its social investment programme.

The Secretary to the State Government, Prof. Solo Chukwulobelu revealed the at the Community Based Targeting Team training in Awka earlier in the week.

He said that this was done to scale up some of the programmes in the fiscal year.

Chukwulobelu, who commended the Federal Government for initiating the cash transfer programme, said that the programme was timely given the desire of Nigerians for a new lease of life.

He said that the purposeful direction in the management of the national economy and quest for inclusiveness in national development had also made the programme imperative.

While urging the participants to listen to the presentation by the federal team and understand the way the people could key into the cash transfer programme to ensure a reduction in poverty and inequity, he noted that “The cash transfer component will enhance financial inclusion amongst the marginalised and vulnerable, boost economic activities in the rural communities and stem rural-urban drift”.

He said that the state government had worked assiduously to meet the start-up requirements for the programmes.

Already, the state government has signed an MoU with the National Social Safety Net Coordinating Office (NASSCO) and set up the state operation coordination unit with requisite operational facilities

Explaining more, Mrs Chinwe Iwuchukwu, a Senior Special Assistant to Donor Agencies/Deputy Focal Person, Social Investments, said six local government areas had been targeted in the pilot scheme. They include Ihiala, Anyamelum, Awka North, Anambra West, Dunukofia and Orumba South.

She said that two participants from each of the council were being trained as the Continued Community-Based Targeting Team to implement the programme for beneficiaries.

The programme, she said, would finance safety nets transfers of N5,000 monthly to carefully targeted poor and vulnerable households included in the single social register.

In his remarks, Mr. Andrew Adejo, National Coordinator, Youth Employment and Social Support Operation (YESSO), commended the efforts of Anambra government on the take-off the programme in the state. Other benefiting states, he said, were Bauchi, Cross Rivers, Ekiti, Osun, Kwara, Kogi, Niger and Oyo.


Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.