Nigeria’s Chief of Army Staff, Lt. Gen. Olufemi Oluyede, has announced the doubling of soldiers’ daily food allowance from ₦1,500 to ₦3,000 monthly. Speaking to officers and soldiers at the 9 Brigade parade ground in Ikeja Cantonment, Lagos on Wednesday, Lt. Gen. Oluyede revealed the allowance increase will take effect at the end of March.
During his inspection tour of 81 Division project sites, the Army Chief also unveiled a remarkably affordable loan scheme for military personnel featuring a mere 3% interest rate.
“We’ve deliberately kept our rate low to make it accessible,” Oluyede explained. “If you go to banks, the lowest interest rate you’ll find is around 25%.”
While encouraging soldiers with pressing financial needs to apply for the loans, he advised prudence: “If you don’t truly need it or aren’t in urgent need, it’s best not to take it. But it’s available to you—it’s your right.”
The Army Chief also detailed an ambitious expansion of the Nigerian Army Housing Scheme, building on foundations laid by his predecessors.
“In December, we unveiled the first set of houses in Abuja,” he said, “and we’re now beginning a new set in Ibadan.”
Additional housing developments are underway in Jos, Port Harcourt, Owerri, and Akwa Ibom State.
“We’re accelerating the process so more personnel can benefit,” Oluyede emphasized.
“I want you to believe in this system because it’s worthwhile. This is a significant investment by the Army to ensure you have a comfortable service life.”
