The Federal Government has announced its intention to restart direct cash transfers to Nigeria’s poorest and most vulnerable citizens.
This initiative was disclosed by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during a retreat held in Uyo, Akwa Ibom State.
Edun stated that the presidential panel on social investment programs has prepared a recommendation to restart direct payments to those in need.
Despite approximately 3 million current beneficiaries, there are an estimated 12 million additional households that could benefit from this assistance, given current economic conditions.
The delay in resuming direct payments is not due to awaiting the panel’s final report, but rather the need to automate the process.
The government aims to utilize technology to ensure a seamless and efficient payment system, eliminating manual processes. This approach will facilitate the immediate resumption of direct payments.
The primary goal of this initiative is to alleviate food insecurity and reduce food prices by injecting funds into the market.
This effort aligns with the government’s fiscal priorities and demonstrates a commitment to supporting the most vulnerable members of society