Abuja, Nigeria — The Federal Government has disbursed a total of ₦330 billion in cash transfers to poor and vulnerable Nigerians under the National Social Safety-Net Coordinating Office (NASSCO).
The announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a meeting of the Special Presidential Panel on the Social Investment Programme held on Wednesday in Abuja.
Mr. Edun explained that the initiative, funded through an $800 million World Bank facility, is a key component of the administration’s social protection programme aimed at cushioning the impact of rising living costs.
“We are pleased to report that the social protection programme, designed as a safety net to help people cope with the rising price level, is now firmly back on track,” he said.
According to the Minister:
- The National Social Register currently captures about 19.7 million poor and vulnerable households, representing over 70 million individuals.
- 15 million households are beneficiaries of the cash transfer scheme.
- 8.5 million households have already received at least one tranche of ₦25,000, with some receiving two or three payments.
- The remaining 7 million households will receive their payments before the end of the year.
Mr. Edun further emphasized that the programme is built on a robust and transparent framework, with beneficiaries verified through their National Identification Numbers (NIN) and payments made digitally via bank accounts and mobile wallets.
The Federal Government reaffirmed its commitment to strengthening social protection systems that directly impact the lives of vulnerable citizens and promote inclusive economic growth.
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