Jubilation rock as FG announces plans to restart direct cash transfers to 12 million poor Nigerians

The Nigeria federal government has revealed plans to restart direct cash transfers to the poorest and most vulnerable Nigerians, in a bid to cushion the economic hardship currently facing the country.

Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, disclosed this at an event in Uyo, Akwa-Ibom state on Wednesday, 21st of February, 2024.

Presently, approximately 3 million people are recipients of these programmes, but due to the escalating cost of living, the government anticipates that an additional 12 million households could qualify for these direct payments.

The finance minister said:

“The presidential panel on the social investment programmes, have prepared to go to Mr. President with an internal recommendation to restart the direct payments to the poorest and the most vulnerable. Everything is being done to ease the pain.

We know that there’s been about 3 million beneficiaries now, but given the way the rates have gone, there are probably another 12 million people, households that can benefit from that payment.”

The minister noted that the expansion of the direct cash transfer aims to reach a wider population struggling with the economic situation and to put more money directly in the hands of those who need it most, allowing them to prioritize their needs and alleviate poverty.

He said the decision to inform the President of the Panel’s decision before the final report is completed is to keep the President abreast of developments. [CONTINUE READING HERE]>>>>>