The Chief of Army Staff, Lieutenant General Olufemi Oluyede, announced an increase in the daily Ration Cash Allowance for troops of the Nigerian Army from N1,500 to N3,000, effective from the end of March.
Oluyede made the announcement on Wednesday while addressing officers and soldiers of the 81 Division of the Nigerian Army at the 9th Brigade Parade Ground in Ikeja, Lagos, during his duty tour of project sites within the division’s area of responsibility.
Expressing disappointment that troops were still receiving N1,500 as their daily feeding allowance, the COAS assured them of his commitment to improving their welfare.
He also acknowledged the accommodation challenges facing serving warrant officers, many of whom do not own homes to retire to.
To address this issue, Oluyede revealed that the Nigerian Army has introduced a housing scheme to ensure retiring officers have a place to live after service.
“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. We have also secured land for another set in Jos. Additionally, we are developing housing units in Port Harcourt, Owerri, and Akwa Ibom states,” he said.
The COAS added that the scheme would provide soldiers with affordable housing options, noting that no other place in Nigeria offers two- or three-bedroom houses for as low as N8 million.
“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. In fact, we are accelerating the process so that more personnel can benefit. I want you to believe in this system because it is worthwhile,” he said.
Oluyede further announced the introduction of a low-interest loan scheme for soldiers, with a three per cent interest rate.
“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, the COAS advised soldiers 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.
