Olayiwola Matthew
The Federal Government has disbursed ₦330 billion in cash to poor and vulnerable Nigerians through the National Social Safety-Net Coordinating Office (NASSCO).
This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at a meeting of the Special Presidential Panel on the Social Investment Programme in Abuja on Wednesday.
In a statement shared by the Special Adviser on Information and Strategy to President Bola Tinubu, Bayo Onanuga, on his official X handle on Thursday, Edun said the social protection programme was back on track to cushion the effects of rising price levels.
“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.
Edun explained that about 19.7 million poor and vulnerable households, representing more than 70 million individuals, have been captured in the National Social Register.
He added that the initiative was being funded from the $800 World Bank facility, with cash already transferred to 15 million households.
“So far, 8.5 million households have received at least one tranche of N25,000, while some have received two or three payments. The remaining seven million households will be paid before the end of the year,” he said.
He stressed that the programme was anchored on a transparent and sustainable framework, noting that all beneficiaries were verified through their National Identity Numbers (NIN).
Payments, he said, were made digitally, either through bank accounts or mobile wallets, to ensure proper accountability.
The minister also assured that the current administration remains committed to assisting vulnerable citizens as part of measures to mitigate the impact of ongoing economic reforms.
The statement highlighted that the renewed effort under the Social Investment Programme, marks the government’s attempt to restore confidence in a scheme that had faced suspension and restructuring earlier in the year.
Edun further maintained that the priority of the Tinubu administration, is to ensure that every qualified household in the National Social Register benefits from the programme before the close of the year.