The Federal Government has paid out ₦330 billion in cash transfers to poor and vulnerable households across Nigeria, the Minister of Finance, Wale Edun, has confirmed.
According to Edun, about 8.5 million households have received at least one tranche of ₦25,000, with some households benefiting from up to three payments. The remaining seven million households are expected to receive their funds before the end of the year.
Funded through an $800 million World Bank facility, the programme aims to cushion Nigerians from the economic impact of recent policy changes, including fuel subsidy removal and the floating of the naira. Payments are made directly to beneficiaries’ bank accounts or mobile wallets, with National Identity Numbers (NINs) used for verification to ensure transparency and reduce fraud.
The initiative forms part of President Bola Tinubu’s drive to establish a modern social protection system. The government has indicated plans to allocate funds for the programme in future budgets to ensure its sustainability.
However, some citizens have raised concerns over the programme’s transparency and the process used to identify eligible households.
