Amanze Chinonye
The Federal Government has disbursed ₦330 billion in cash transfers to poor and vulnerable Nigerians as part of its social protection programme, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced on Wednesday.
Speaking at a meeting of the Special Presidential Panel on the Social Investment Programme in Abuja, Edun said the payments were made through the National Social Safety-Net Coordinating Office (NASSCO) to cushion the impact of rising living costs.
“We are pleased to report that the social protection programme put in place as a safety net to help people cope with the rising price level is now firmly back on track,” he stated.
Join our WhatsApp ChannelAccording to the minister, about 19.7 million poor and vulnerable households, representing more than 70 million individuals, are captured in the National Social Register. Out of these, 15 million households have been targeted for the ongoing cash transfers funded by an $800 million World Bank facility.
According to NAN Edun revealed that 8.5 million households have received at least one tranche of ₦25,000, with some already getting two or three payments. The remaining seven million households are expected to receive their disbursements before the end of the year.
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He stressed that the programme is anchored on a “robust and sustainable” system, with beneficiaries verified through their National Identity Numbers (NIN) and payments made digitally via bank accounts or mobile wallets to prevent leakages.
The disbursement is a critical lifeline for millions of Nigerians grappling with soaring inflation, fuel subsidy removal and rising food prices, all of which have worsened poverty levels across the country.
By providing direct cash support, the government aims to reduce immediate hardship while buying time for broader economic reforms to take root. Analysts, however, caution that the real test will be whether the scheme reaches all intended beneficiaries transparently and whether it can be sustained beyond the current funding cycle.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
