We've Disbursed Over N300billion to Poor Nigerians – FG

The Federal Government has revealed that more than N330 billion has so far been disbursed as cash transfers to millions of poor and vulnerable Nigerians under its social investment scheme.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this yesterday in Abuja while addressing members of the Special Presidential Panel on the Social Investment Programme.

According to him, the initiative is part of President Bola Tinubu’s economic relief strategy, designed to cushion the impact of inflation and rising living costs on struggling households.

“This intervention is no longer on paper; it is actively reaching the people who need it the most. We are determined to sustain this momentum,” Edun stated.

15 million households targeted

The minister disclosed that over 19.7 million households, representing more than 70 million individuals, have been captured in the National Social Register. 

Out of these, 15 million households are beneficiaries of the ongoing cash transfer programme.

He explained that 8.5 million households have already received at least one round of N25,000 payments, with some receiving two or three tranches. 

The balance of about seven million households is expected to be reached before the end of the year.

Digital payments for accountability

Edun stressed that the programme is anchored on transparency and efficiency, with beneficiaries verified through their National Identification Numbers (NIN) and payments made digitally into bank accounts or mobile wallets.

He added that the funds being disbursed are drawn from the $800 million World Bank facility, specifically earmarked for social protection programmes.

Previous updates on disbursement

In August, Minister of State for Humanitarian Affairs and Poverty Reduction, Tanko Sununu, also disclosed that over 2.19 million Nigerians were supported through the conditional cash transfer programme for that month alone.

Sununu explained that the process relies on data from the National Social Safety-Net Coordinating Office (NASSCO), which identifies households in the lowest economic bracket.

“So far, nearly six million Nigerians have benefitted, with over N419 billion already disbursed,” Sununu said in a previous briefing.

He noted that beneficiaries are spread across the country, with 71 per cent located in the North and 29 per cent in the South.

Relief for struggling families

The government maintains that the cash transfer initiative is not just a temporary relief package but a structured intervention aimed at reducing poverty and providing a sustainable support system for the most vulnerable.