By Sabiu Abdullahi
The Federal Government of Nigeria is gearing up to reinstate direct cash transfers to the country’s poorest and most vulnerable citizens in response to the soaring cost of living.
Approximately three million individuals currently benefit from these programmes, but with the escalating economic challenges, an additional 12 million households are expected to qualify for assistance.
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this initiative during the Ministry’s retreat in Uyo, Akwa-Ibom State.
He affirmed the urgency of the situation, stating, “Everything is being done to ease the pain.”
Edun showed the importance of utilising technology to ensure efficient and transparent disbursement of funds, aiming to bypass manual processes and prevent delays.
He highlighted the government’s commitment to leveraging technology for seamless payments, ensuring that assistance reaches those in need without bureaucratic hurdles.
Moreover, the government is actively addressing the issue of rising food prices by implementing measures to enhance food availability and reduce costs.
Minister Edun reiterated President Bola Tinubu’s intervention to release 60,000 metric tonnes of food grains, noting the priority placed on stabilising food prices and ensuring accessibility for all citizens.
The minister was quoted as saying, “The presidential panel on the social investment programmes have prepared to go to Mr. President with an internal recommendation to restart the direct payments to the poorest and the most vulnerable. Everything is being done to ease the pain.
“We know that there’s been about three million beneficiaries now, but given the way the rates have gone, there are probably another 12 million people, households that can benefit from that payment.”
The decision to inform the President of the Panel’s recommendation before the final report is completed shows the government’s commitment to transparency and accountability in addressing the nation’s economic challenges.
With these initiatives, the Federal Government aims to provide immediate relief to struggling households and alleviate poverty in Nigeria.
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