The Federal Government has disbursed a total of N330 billion to vulnerable Nigerians under its conditional cash transfer scheme, according to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
Speaking at a press briefing in Abuja, Edun revealed that the payments are being implemented through the National Social Safety-net Coordinating Office (NASSCO) and funded by an $800 million World Bank facility.
He explained that the initiative targets 19.7 million poor and vulnerable households, representing more than 70 million Nigerians, on the National Social Register (NSR). Out of this number, 15 million households are earmarked to receive support under the current programme.
“So far, about 8.5 million households have received at least one round of payment amounting to N25,000 each, while some beneficiaries have already received two or even three tranches. The remaining households are expected to be paid before the end of the year,” Edun said.
The minister emphasized that the programme forms part of President Bola Tinubu’s reform measures aimed at cushioning the effects of rising living costs caused by the removal of fuel subsidies and the unification of the naira exchange rate.
According to him, the initiative is anchored on a robust digital framework that ensures transparency and sustainability. Beneficiaries are identified through their National Identity Numbers (NIN) and receive payments directly into their bank accounts or mobile wallets, eliminating manual cash disbursements.
Edun added that the Federal Government intends to make the programme a long-term intervention, with provisions for annual budgetary allocations to strengthen Nigeria’s social protection system.
“This is the foundation for a modern social protection framework that can reach targeted groups of vulnerable citizens consistently. It is in line with Mr. President’s commitment to supporting the poorest Nigerians while implementing wider economic reforms,” he said.
Providing further clarification, Funmi Olotu, National Coordinator of NASSCO, explained that the staggered payment approach was introduced to guarantee transparency.
“In line with the President’s directive, all payments must be linked to the NIN and carried out through direct transfers. That is why some beneficiaries have received one, two, or three tranches already. This ensures that no payment is made outside the verified system,” Olotu stated.
The programme, she noted, has moved away from traditional cash handouts to a more accountable and traceable method of reaching beneficiaries.
