Nigeria, Aug. 27 -- Economists have welcomed the Federal Government's launch of a $1 billion social protection program, saying it could ease economic hardship, reduce poverty and help vulnerable Nigerians achieve long-term financial independence.

Dr Uju Ogubunka, former Executive Secretary of the Chartered Institute of Bankers of Nigeria (CIBN), described the intervention as timely, particularly amid rising living costs.

"The program launch is commendable, particularly now that a lot of our people are grappling with economic hardship caused by the cost of living crisis," Ogubunka said.

He urged state governments to adopt similar initiatives to extend social protection to more Nigerians at the grassroots.

Ogubunka also stressed the im...