FG to Relaunch Direct Cash Transfer, Targets 12 Million Nigerians Amid Hardship

Amidst the current hardship in Nigeria, the Federal Government has revealed plans to relaunch direct cash transfers to about 12 million vulnerable Nigerians.

This initiative was announced by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during a recent retreat in Uyo, Akwa Ibom State.

Initially designed for 3 million Nigerians, the current economic situation has prompted the government to increase the number of recipients to 12 million.

The presidential panel on social investment programs has prepared a recommendation to restart the direct payments to the poorest and the most vulnerable, as a means to ease the pain of the current economic hardship.

President Bola Tinubu suspended the management of the National Social Investment Programme Agency (NSIPA) and its programs in January, which affected the conditional cash transfer program and three others.

However, the government is now committed to using technology to ensure smooth and transparent payments, avoiding manual processes and delays.

The minister also spoke about the high cost of food prices and the government’s steps to address it by increasing food availability and driving down costs.

The goal is to put food and feed into the market, in an attempt to drive down the cost of food and make food available.

While defending the cash transfer program, the minister said, “History has shown, evidence has shown that when you pay someone directly, you put money in their hand.

It reduces poverty because they decide where the shoe is pinching most.”

President Bola Tinubu introduced direct cash transfers to millions of Nigerians as one of the policies to alleviate the hardship brought by fuel subsidy removal.

The government is now committed to growing the economy, creating jobs, and lifting millions of Nigerians out of poverty, which is the ultimate goal of President Bola Tinubu and his economic policies.