The FG has disbursed ₦330 billion in cash transfers to 15 million vulnerable households, ensuring support for Nigerians most affected by rising living costs.
The Federal Government has disbursed N330 billion in cash support to poor and vulnerable Nigerians under the National Social Safety-Net Coordinating Office (NASSCO), a move aimed at cushioning citizens against rising living costs.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the disbursement on Wednesday during a meeting of the Special Presidential Panel on the Social Investment Programme in Abuja.
In a statement shared by Presidential aide Bayo Onanuga, Edun said the programme, funded through a $800 million World Bank facility, is back on track.
“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 said.
According to Edun, about 19.7 million poor and vulnerable households, representing over 70 million Nigerians, are already captured in the National Social Register. Of these, 15 million households have been targeted for immediate cash transfers.
So far, 8.5 million households have received at least one tranche of N25,000, with some receiving two or three payments. The remaining seven million households are expected to receive their allocations before the end of the year.
Edun emphasized that all beneficiaries were verified through their National Identity Numbers (NIN) and that transfers are conducted digitally—via bank accounts or mobile wallets—to ensure accountability and transparency.
He assured that President Bola Tinubu’s administration remains committed to sustaining the programme as part of broader economic reforms designed to protect the most vulnerable citizens.
Edited by Aremu Toyeebaht
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