The Deputy Speaker of the House of Representatives, Benjamin Kalu, said that over $10 billion has been saved from subsidy removal in 2023
Deputy Speaker of the House of Representatives, Benjamin Kalu, has disclosed that President Bola Ahmed Tinubu is set to launch an unemployment benefits scheme aimed at cushioning the effects of joblessness among Nigerian youths.
Kalu made the disclosure at a town hall meeting of the Renewed Hope Partners (RHP) held in Bende, Bende Local Government Area of Abia State, where he also announced a N1 billion support package for 2,000 small and medium-scale enterprises (SMEs) across the state.
According to him, the proposed unemployment benefits scheme is among several social protection programmes in the pipeline under the Tinubu administration to address economic hardship and strengthen citizens’ welfare.
He said, “My people, there are several other programmes in the pipeline, including the unemployment benefits scheme soon to be launched by Mr. President to cater to our unemployed youth.
“Your legislature is working. Your President is working. And your Deputy Speaker, from Bende to Abuja, is working tirelessly, accountable to you, driven by the conviction that Nigeria’s best days are not behind us but ahead of us.
“I ask you today: Support President Tinubu. Support our party, the All Progressives Congress. Support the Renewed Hope Agenda. Support Nigeria. We are not just rebuilding a country; we are building a legacy for our children,” Kalu said.
At the event, the Deputy Speaker distributed trailer loads of rice, other food items, and N100 million in cash to over 100 churches, the All Progressives Congress (APC), and various support groups, explaining that the intervention was part of efforts to support party structures and vulnerable groups.
He recalled that about six months ago, he donated N500 million through the Renewed Hope Partners to support businesses in Abia State, adding that the new N1 billion SME intervention would cut across the 17 local government areas of the state.
Kalu said the programme would be implemented in partnership with financial institutions, including the Bank of Industry, Bank of Agriculture, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), and the Nigeria Consumer Credit Corporation (CREDICORP), with the expectation that the agencies would match the fund.
“We are going to support 2,000 businesses with N1 billion across the entire Abia State. Each business will get about N500,000 to start with. From there, we will invite the Bank of Industry, Bank of Agriculture, SMEDAN, CREDICORP and others to partner with us and match our fund,” he said.
He directed the Director-General of the Benjamin Kalu Movement, Pastor Emma Trumps Eke, to ensure that eligible businesses are identified and properly structured ahead of the empowerment exercise scheduled for the first quarter of next year.
Describing Abia as an enterprising state with a large population of traders and business people, the Deputy Speaker said the intervention was designed to stimulate economic development and strengthen local productivity.
Highlighting his legislative performance, Kalu, who represents Bende Federal Constituency, said he had sponsored 127 bills in the last two years, spanning governance, inclusion, infrastructure, security and economic reforms.
He also listed over 50 constituency projects executed or ongoing across the 13 electoral wards in Bende, including schools, ICT centres, health facilities, roads, agricultural processing centres, electricity restoration, water projects and skills acquisition facilities.
Beyond infrastructure, he said over 150 constituents had benefited from employment facilitation, scholarships and overseas training, while about 1,600 individuals accessed the Benjamin Kalu Grants.
Kalu commended President Tinubu for what he described as bold economic and financial reforms, including fuel subsidy removal, fiscal and tax reforms, power sector improvement, social protection initiatives and efforts to strengthen security and food security.
He urged Nigerians to remain patient and continue to support the administration, assuring that the government would deliver on its promises.
“We must give honour where it is due. In the last two and a half years, our nation has navigated turbulent global economic waters. That we are standing strong today is a testament to the steady hand of President Bola Ahmed Tinubu,” he said.
“I want to use this platform to thank Mr. President for his role as the Unifier-in-Chief. He has not only stabilized our great party, the APC, but has also engendered a harmonious relationship between the Executive and the Legislature that is unprecedented in our democratic history.
“This stability is not accidental; it is the bedrock upon which development is built. Because the centre is holding, we in the legislature can work.”
