Senator Ned Nwoko, representing Delta North, recently shared his perspective on Nigeria’s financial challenges in an interview with Arise TV. He emphasized that while Nigeria possesses substantial financial resources, the primary issue is the ineffective redistribution of these funds to tackle poverty, hunger, and unemployment.
Nwoko proposed the creation of a National Social Security Agency under the presidency to manage a dedicated fund for those in need. This fund would be supported by a 5% deduction from the federation account and an additional 5% deduction from the income of all employed Nigerians. He believes that such a fund could provide a consistent monthly income to the poor, retirees, and individuals who have lost their jobs.
According to Nwoko, this approach would create a more organized social safety net, addressing issues such as poverty, hunger, and crime more effectively than the current Ministry of Humanitarian Affairs. He also highlighted that the proposed fund could assist in managing internally displaced persons and supporting victims of natural disasters, offering a structured solution to these pressing problems.