The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has disclosed that the Federal Government has disbursed over N330 billion under its conditional cash transfer programme aimed at cushioning the effects of economic hardship on vulnerable Nigerians.
Edun, who spoke at a press briefing in Abuja on Wednesday, said the intervention was part of President Bola Tinubu’s renewed efforts to deliver relief to households grappling with the rising cost of living. He noted that the funds were channeled directly to beneficiaries across the 36 states and the Federal Capital Territory to ensure transparency and accountability.
According to the minister, the cash transfer programme forms a critical component of the National Social Investment Programme (NSIP) and has reached millions of households since the beginning of the year.
“The Federal Government has paid out N330 billion directly to poor and vulnerable Nigerians. This is in line with President Tinubu’s promise to provide immediate succour to the people while broader economic reforms take root,” Edun stated.
He explained that the initiative is complemented by other measures, including the distribution of food palliatives, support for small businesses, and targeted subsidies in critical sectors such as agriculture and transportation.
Edun assured that the government is working to expand the reach of the scheme through digital payment platforms and a harmonised social register to eliminate cases of fraud and duplication.
While commending the intervention, some civil society groups have urged the government to publish a detailed breakdown of the beneficiaries to ensure transparency. Economists have also warned that though cash transfers offer short-term relief, more sustainable measures are needed to address inflation and unemployment.
The Federal Government has, however, reiterated its commitment to balancing short-term palliatives with long-term economic recovery plans, promising that the ongoing fiscal and monetary reforms will soon yield tangible benefits for Nigerians.
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