Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, announced significant progress in Nigeria’s cash transfer initiative. He shared the update during a recent briefing. The program targeted poor households to ease economic hardships.
Program Overview
The Federal Government disbursed N25,000 to each qualifying household. Officials managed the effort through the National Social Safety Net Programme. Moreover the initiative drew from a National Social Register that identified vulnerable groups.
Edun’s Key Statement
Edun specified the reach of the transfers. He stated, “The current cash transfers that are being done, I think that’s the latest figure is around 9.3 household that has been reached at least with one tranche of 25,000. Yes, 9.3 million vulnerable household that has been reached.” This figure marked an increase from previous reports.
Impact on Beneficiaries
The disbursements affected millions of individuals. Edun explained, “If you average that by about four people per household and multiply that by four.” Meanwhile the program supported over 37 million Nigerians in need.
Data Verification
Authorities updated the register continuously. Edun noted, “The register is a document that we are updating. We are expanding. We’re cleaning the data. But it’s real data. When we say we have given 9.3 million household these are real people.” This process ensured accuracy.
Challenges and Resolutions
Earlier efforts faced hurdles like unbanked beneficiaries. However the government linked payments to National Identity Numbers. As a result, transfers occurred directly to accounts or mobile wallets.
Future Expansion
Officials planned to cover more households. Edun referenced prior figures of over eight million at a council meeting. Therefore the program aimed for broader inclusion soon.
Conclusion
The initiative formed part of economic relief strategies. Moreover it highlighted ongoing efforts to support the poorest. The government committed to transparency in distributions.
