Federal Government Disburses ₦330 Billion to Vulnerable Nigerians – Wale Edun
The Federal Government has disbursed ₦330 billion in cash transfers to poor and vulnerable Nigerians under the National Social Safety-Net Coordinating Office (NASSCO).
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this known on Wednesday in Abuja during a meeting of the Special Presidential Panel on the Social Investment Programme.
“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,” Edun said.
He explained that about 19.7 million poor and vulnerable households, representing over 70 million individuals, have been captured in the National Social Register.
According to him, the cash transfers were funded from an $800 million World Bank facility and targeted at 15 million households.
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8.5 million households have so far received at least one tranche of ₦25,000, with some receiving two or three payments.
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The remaining 7 million households will be paid before the end of the year.
The minister stressed that the programme is anchored on a robust and sustainable system, with beneficiaries verified through their National Identification Numbers (NINs) and payments made digitally via bank accounts or mobile wallets.
The disbursement is part of the Federal Government’s efforts to cushion the impact of inflation and economic reforms on Nigeria’s most vulnerable citizens.
Reported by NAN
