FG Disburses N330bn to 8.5m poor Households Finance Minister, Wale Edun.
The Federal Government has disbursed N330 billion in cash transfers to 8.5 million poor and vulnerable households under its renewed social protection programme.
Finance Minister Wale Edun, speaking in Abuja, said the initiative resumed after earlier delays caused by integrating biometric data with the National Identity Number (NIN).
He noted that 8.5 million of the targeted 15 million households have received at least one tranche of the N25,000 monthly payment, with some getting up to three. Each is expected to receive three tranches, while the remaining 7 million households will be paid before year-end.
“This safety net to help people cope with rising prices is now firmly back on track,” Edun said, adding that it lays the foundation for a modern social protection system promised by President Tinubu.
Funmi Olotu, head of the National Social Safety Net Coordinating Office (NASSCO), explained that shifting to digital disbursements tied to NIN verification slowed payments but was key for transparency. “Mr President said no more traditional payments pay directly into accounts,” she said.
Over 10.2 million NINs have been collected, with 9.6 million verified by NIMC.
She added that the programme uses the National Social Register (NSR), which holds data on over 70 million Nigerians in 19.7 million households, built with World Bank support using 40 socioeconomic indicators. “The NSR is not political. Neither the Minister nor the President can add names,” she stressed.
An executive order now mandates that all government interventions draw from the NSR.
The conditional cash transfer scheme, launched by President Tinubu on October 17, 2023, targets 15 million households as part of efforts to cushion hardship and reduce inequality.
The Federal Government has disbursed N330 billion in cash transfers to 8.5 million poor and vulnerable households under its renewed social protection programme.
Finance Minister Wale Edun, speaking in Abuja, said the initiative resumed after earlier delays caused by integrating biometric data with the National Identity Number (NIN).
He noted that 8.5 million of the targeted 15 million households have received at least one tranche of the N25,000 monthly payment, with some getting up to three. Each is expected to receive three tranches, while the remaining 7 million households will be paid before year-end.
“This safety net to help people cope with rising prices is now firmly back on track,” Edun said, adding that it lays the foundation for a modern social protection system promised by President Tinubu.
Funmi Olotu, head of the National Social Safety Net Coordinating Office (NASSCO), explained that shifting to digital disbursements tied to NIN verification slowed payments but was key for transparency. “Mr President said no more traditional payments pay directly into accounts,” she said.
Over 10.2 million NINs have been collected, with 9.6 million verified by NIMC.
She added that the programme uses the National Social Register (NSR), which holds data on over 70 million Nigerians in 19.7 million households, built with World Bank support using 40 socioeconomic indicators. “The NSR is not political. Neither the Minister nor the President can add names,” she stressed.
An executive order now mandates that all government interventions draw from the NSR.
The conditional cash transfer scheme, launched by President Tinubu on October 17, 2023, targets 15 million households as part of efforts to cushion hardship and reduce inequality.
FG Disburses N330bn to 8.5m poor Households Finance Minister, Wale Edun.
The Federal Government has disbursed N330 billion in cash transfers to 8.5 million poor and vulnerable households under its renewed social protection programme.
Finance Minister Wale Edun, speaking in Abuja, said the initiative resumed after earlier delays caused by integrating biometric data with the National Identity Number (NIN).
He noted that 8.5 million of the targeted 15 million households have received at least one tranche of the N25,000 monthly payment, with some getting up to three. Each is expected to receive three tranches, while the remaining 7 million households will be paid before year-end.
“This safety net to help people cope with rising prices is now firmly back on track,” Edun said, adding that it lays the foundation for a modern social protection system promised by President Tinubu.
Funmi Olotu, head of the National Social Safety Net Coordinating Office (NASSCO), explained that shifting to digital disbursements tied to NIN verification slowed payments but was key for transparency. “Mr President said no more traditional payments pay directly into accounts,” she said.
Over 10.2 million NINs have been collected, with 9.6 million verified by NIMC.
She added that the programme uses the National Social Register (NSR), which holds data on over 70 million Nigerians in 19.7 million households, built with World Bank support using 40 socioeconomic indicators. “The NSR is not political. Neither the Minister nor the President can add names,” she stressed.
An executive order now mandates that all government interventions draw from the NSR.
The conditional cash transfer scheme, launched by President Tinubu on October 17, 2023, targets 15 million households as part of efforts to cushion hardship and reduce inequality.
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