Chukwu Obinna 
Minister of Finance and Economy, Wale Edun
The Federal Government has disbursed ₦330 billion to 15 million vulnerable households in a bid to cushion the hardship caused by rising living costs, Finance Minister Wale Edun confirmed in Abuja on Wednesday.
Speaking during a meeting of the Special Presidential Panel on the Social Investment Programme, Mr Edun said the initiative aligns with President Bola Tinubu’s agenda to support the country’s poorest citizens.
“We are pleased to report that the social protection programme put in place as a safety net is now firmly back on track,” he declared.
The payments, backed by an $800 million World Bank loan, are targeted at households listed in the National Social Register, which covers 19.7 million households — representing more than 70 million Nigerians.
According to Mr Edun, about 8.5 million households have already received at least one tranche of ₦25,000, with some benefitting from multiple payments. The remaining seven million will be paid before year-end.
National Coordinator of the National Social Safety Nets Coordinating Office (NASSCO), Funmi Olotu, stressed that transfers are tied to National Identity Numbers (NIN) and paid digitally. “No more traditional cash payments. All transfers are direct to bank accounts,” she explained.
The redesigned scheme replaces the previous plan of ₦5,000 monthly for six months, with ₦25,000 monthly for three months. Officials said it will now be built into the federal budget to ensure sustainability.
About the Author
Mirian Gom 
Hussaini Ibrahim 
