Senator Jimoh Ibrahim has introduced a proposal for a food voucher system aimed at addressing hunger in Nigeria, urging the Central Bank of Nigeria (CBN) and the Ministry of Finance to take action on this initiative......See Full Story>>.....See Full Story>>
While speaking in Washington, D.C., the All Progressives Congress (APC) senator from Ondo State suggested that funding for these food vouchers could come from existing palliative funds.
He claimed that this system would effectively reduce poverty, stabilize the naira, and mitigate inflation by utilizing vouchers instead of cash.
The senator estimated that the plan could assist up to 20 million Nigerians facing food insecurity.
Additionally, he noted that this approach would help minimize corruption by eliminating intermediaries, particularly state governments, from the distribution process, ensuring that aid goes directly to those in need.
The Cable reported him saying: “It will lower inflation because it uses vouchers rather than cash.
“This policy is cohesive, and once implemented, it will have a direct effect on those suffering from poverty and food scarcity. Therefore, food vouchers are crucial.
“Consider giving N100,000 per month to anyone over 18 who is truly affected by food insecurity and poverty; this would provide consistent support for the first year. This method is far more sensible than palliatives related to solar power and similar initiatives.
“Addressing food and hunger is essential to prevent crises. This is why we advocate for a coordinated economic policy between the central bank and the ministry of finance, allowing for a clear mechanism to print food vouchers.”