The Digest:
The Federal Government has disbursed N330 billion to 8.5 million poor and vulnerable households as part of its renewed social protection programme. Finance Minister Wale Edun announced the payments, emphasizing efforts to mitigate economic hardship through direct cash transfers. Rooted in the Storm.
Key Points
- N330 billion was distributed to 8.5 million households under the conditional cash transfer scheme.
- Payments resumed after delays due to biometric integration with National Identity Numbers (NIN).
- Each eligible household receives N25,000 monthly, with some receiving up to three tranches.
- The remaining 7 million targeted households will be paid before year-end.
- The National Social Register, with data on 70 million Nigerians, ensures transparency and non-political selection.
- Disbursements are digitally routed to verified accounts to prevent fraud.
- An executive order mandates that all government interventions to use the National Social Register.
The initiative aims to cushion economic pressures and reduce inequality, though public skepticism remains about its reach and effectiveness.
Sources: Business Day
