Senator Jimoh Ibrahim has proposed a food voucher system to combat hunger in Nigeria, calling on the Central Bank of Nigeria (CBN) and the Ministry of Finance to implement the initiative.
Speaking in Washington, D.C, the All Progressives Congress (APC) senator from Ondo state, suggested that the food vouchers could be funded by consolidating existing palliative funds.
He argued that the system would provide a direct impact on reducing poverty, stabilizing the naira, and reducing inflation, as it would rely on vouchers rather than cash. …CONTINUE READING
He said the plan could potentially benefit up to 20 million Nigerians suffering from food insecurity.
The senator also stated that it would curb corruption by removing intermediaries, particularly state governments, from the distribution process, enabling the funds to directly reach those in need.
The Cable quoted him as saying: “It will reduce inflation because you are using vouchers as opposed to using cash.
“This is a harmonious policy, and when it’s done, it will help the government to have a direct impact on those who are affected by poverty and food insecurity. So, vouchers for food is very significant.
“Imagine you give N100,000 per month to anybody above 18 years that is really affected by food insecurity and poverty, you see every month they draw down on this in the first one year. It makes more sense than some palliatives that have to do with solar power and things like that.
“It’s very important because when you don’t solve the problem of food and hunger, then you are looking for crisis. This is why we are saying that the economic policy of the central bank and the ministry of finance should be harmonised, and then we can have a clear account to print vouchers for food.”
