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    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

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    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
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    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

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    UK tightens visa rules for care workers, skilled workers and students

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    Spain golden visa scheme ends as Portugal and Greece demand increases

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    Buhari says Nigeria security and economy improved during his tenure

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    Release of Oando’s 2019 Annual Financial Statements delayed again

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    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

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    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

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    Trump wins a resounding victory in first Republican primary in Iowa

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COAS increases troops’ daily feeding allowance from N1,500 to N3,000

Thursday, 27 February 2025, 6:37 pm
in News, Nigeria
0
COAS increases troops’ daily feeding allowance from N1,500 to N3,000
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Lieutenant General Olufemi Oluyede, Chief of Army Staff, has approved an increase in the daily Ration Cash Allowance for Nigerian Army personnel from N1,500 to N3,000, effective at the end of March.

He made this announcement on Wednesday while addressing officers and soldiers of the 81 Division at the 9th Brigade Parade Ground in Ikeja, Lagos, during his visit to inspect ongoing projects in the division’s area of responsibility. During his address, Oluyede expressed concern over the previous N1,500 allowance and assured the troops of his commitment to improving their welfare.

In addition to the feeding allowances, he acknowledged the housing challenges faced by warrant officers, many of whom do not have homes upon retirement. To address this issue, he highlighted the Nigerian Army’s housing initiative aimed at ensuring that retiring personnel have a place to live.

“I am going to build on what my predecessors have done in improving the welfare of our personnel. In December, under the Nigerian Army Housing Scheme, we unveiled the first set of houses in Abuja. As I speak, we are beginning a new set in Ibadan, and we have also secured land for additional housing developments in Jos. Furthermore, we are developing housing units in Port Harcourt, Owerri, and Akwa Ibom states,” he said. The housing scheme, he noted, offers affordable options for soldiers, with prices significantly lower than those in the open market.

“This will ensure a widespread distribution of houses that soldiers can subscribe to. You will all agree with me that there is nowhere in Nigeria where you can buy a two- or three-bedroom house for as low as N8 million. This is a significant investment by the Army to ensure you have a comfortable post-service life. We are accelerating the process so that more personnel can benefit.

I want you to believe in this system because it is worthwhile,” he added. Additionally, Oluyede announced a new low-interest loan scheme for soldiers, offering a 3% interest rate, which is far below commercial bank rates. “As for the loan scheme, it comes with just a 3% interest rate. If you go to banks, the lowest interest rate you will find is around 25%. We have deliberately kept our rate low to make it accessible. More funds will be injected into the scheme, so if you have pressing financial needs, you are encouraged to apply,” he explained.

However, he advised personnel to borrow only when necessary. “I want to advise that if you don’t truly need it or if you are not in urgent need, it’s best not to take it. It is easy to obtain but difficult to repay. That said, it is available to you; it is your right, and you can apply for it at any time. Once approved, you will receive it as quickly as possible,” he added. In response to complaints about soldiers purchasing their uniforms, Oluyede reassured the troops that the Army had begun distributing 100,000 kits per month. “We have allocated uniforms to smaller divisions. The next phase will cover the 82nd Division.

Once we complete distribution there, we will proceed here and issue more uniforms. I can assure you that before the end of the year, you will likely receive another set,” he said. He acknowledged the challenges in accessing military kits but assured personnel that efforts were underway to resolve the issue. Oluyede urged soldiers to remain dedicated to their duties, emphasizing that their commitment is essential to the Army’s success.

Vivian Ifunanya Gerald

Engineer, Entrepreneur, forex trader and Analyst

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