Senator Jimoh Ibrahim proposes food vouchers to combat hunger in Nigeria

Senator Jimoh Ibrahim, representing Ondo South, on Sunday, called on the Central Bank of Nigeria (CBN) and the Ministry of Finance to introduce food vouchers to alleviate hunger and poverty in Nigeria.

Ibrahim made this recommendation at a news conference in Washington DC, attended by key officials, including CBN Governor Olayemi Cardoso and Finance Minister Wale Edun.

Ibrahim argued that funding the vouchers by collapsing existing palliative accounts would reduce poverty, stabilize the naira, and benefit 20 million Nigerians struggling with hunger and food insecurity. “It will reduce inflation because you are using vouchers as opposed to using cash,” he explained.

Ibrahim emphasized the significance of vouchers, stating, “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.”

READ ALSO: Senate approves 15% funding for new regional development commissions

The senator believes vouchers would minimize corruption associated with palliative programs since the CBN wouldn’t distribute funds to state governments. Nigeria has experienced significant social unrest, including the #EndHunger protest in June and increased insecurity due to poverty and hunger, as warned by former Vice President Atiku Abubakar.

The International Monetary Fund (IMF) has advised the Nigerian government to allocate savings from petrol subsidy removal to support vulnerable households amid economic hardship. The IMF recognizes the significant social costs involved and urges targeted social measures to cushion the effects of reforms.

Nigeria’s economic challenges include high inflation (32.7%) and rising external debt, projected to reach 25% of GDP by 2025. The government’s decision to remove fuel subsidies has sparked controversy, with critics linking economic difficulties to IMF policies. However, the IMF clarifies that subsidy removal was Nigeria’s choice, emphasizing the need for targeted social measures to support affected populations.

The post Senator Jimoh Ibrahim proposes food vouchers to combat hunger in Nigeria appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.