By Jamiu Yusuf
ABUJA: The Minister of Finance and Coordinating Minister of the Economy, Wale Edun said the Federal Government has disbursed N330 billion in cash transfers to poor and vulnerable Nigerians under President Bola Tinubu’s social welfare programme, according to .
Speaking at a press briefing in Abuja, Edun revealed that the payments are drawn from the $800 million World Bank loan designed to cushion the impact of fuel subsidy removal and the floating of the naira, which have pushed up living costs across the country.
The minister disclosed that Nigeria’s National Social Register (NSR) currently has about 19.7 million poor and vulnerable households, representing more than 70 million individuals.
Of these, 15 million households were targeted for the ongoing N25,000 cash transfer scheme. So far, 8.5 million households have received at least one tranche, while others have gotten two or three payments.
“The remaining seven million households will be paid before the end of the year,” Edun confirmed.
Edun stressed that the scheme is anchored on transparency, with beneficiaries identified through their National Identity Numbers (NINs) and paid digitally via bank accounts or mobile wallets.
“This is part of President Tinubu’s plan to build a modern social protection system that provides direct financial support to the poorest and most vulnerable Nigerians,” the minister said.
The National Coordinator of the National Social Safety-net Coordinating Office (NASSCO), Funmi Olotu, explained that some beneficiaries received one, two, or three tranches because of the government’s insistence on linking every payment to NIN.
“We now do direct debit transfers. The President ruled out the traditional method of handing out cash. That’s why the process appears staggered, but it is more secure and transparent,” she said.
Olotu further clarified that the National Social Register was built in partnership with the World Bank using over 40 socio-economic variables. “It is not a political register. Neither the Minister nor the President can insert names into it,” she emphasized.
Under the Buhari administration, the plan was to give each household N5,000 monthly for six months. However, President Tinubu revised the structure to N25,000 monthly for three months, allowing beneficiaries to access larger support within a shorter timeframe.
Edun announced that going forward, provisions would be made in the federal government’s annual budgets to sustain the social protection programme.
“With the reforms in place, Nigeria now has the basis for a modern, sustainable social welfare system capable of reaching targeted households directly,” he said.
