The Federal Government has disbursed ₦330 billion in cash transfers to millions of poor and vulnerable Nigerians, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, confirmed on Tuesday in Abuja.
Speaking at a press briefing, Edun explained that the funds were disbursed through the National Social Safety-net Coordinating Office (NASSCO), in a bid to cushion the harsh economic effects of ongoing reforms such as subsidy removal and naira floatation.
Targeting 15 Million Households
According to the minister, about 19.7 million poor and vulnerable households, representing over 70 million Nigerians, are currently captured on the National Social Register.
The present intervention, funded by an $800 million World Bank facility, targets 15 million households, each entitled to receive ₦25,000.
“So far, 8.5 million households have been paid at least one tranche of ₦25,000. Some have received two, and some have received three,” Edun said, stressing that all remaining beneficiaries will receive their payments before the year ends.
Transparency Through NIN and Digital Payments
Edun emphasised that the disbursement process was robust and transparent, with beneficiaries identified through their National Identity Numbers (NINs) and payments made directly to their bank accounts or mobile wallets.
“This is part of Mr. President’s plan to help the poorest and most vulnerable cope with rising prices. We are now building a modern social protection system that can sustain direct interventions,” he added.
The minister also confirmed that provisions for cash transfers would now be included in the national budget to guarantee continuity and sustainability.
Why Some Beneficiaries Got Staggered Payments
NASSCO’s National Coordinator, Funmi Olotu, further clarified that the staggered payments were due to President Tinubu’s directive that all transfers must be digitally linked to verified NINs.
“We do direct-debit transfers. Mr. President insisted that no cash handouts be given. Payments must go directly to people’s accounts to ensure transparency,” Olotu explained.
She noted that this requirement explains why some households have received one, two, or even three tranches already, while others are still being processed.
With ₦330 billion already disbursed, the government says this is only the beginning of a sustainable social safety net aimed at shielding the poorest Nigerians from economic hardship.
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