The Federal Government has disbursed ₦330 billion in cash transfers to poor and vulnerable Nigerians through the National Social Safety-Net Coordinating Office (NASSCO).
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the development on Monday in Abuja, explaining that the initiative is part of President Bola Tinubu’s plan to cushion the impact of fuel subsidy removal and exchange rate reforms on the poorest citizens.
He revealed that 19.7 million poor and vulnerable households — representing over 70 million individuals — are listed in the National Social Register. Of these, 15 million households are receiving the cash transfers, funded by an $800 million World Bank facility.
“So far, 8.5 million households have received at least one tranche of ₦25,000. Some have received two or three payments. The remaining 7 million households will be paid before the end of the year,” Edun said.
He emphasized that the programme is built on a “robust and sustainable system,” with beneficiaries verified through their National Identification Numbers (NIN) and payments made digitally via bank accounts or mobile wallets.
Edun also disclosed that the initiative would be included in the annual federal budget going forward to guarantee continuity.
“We now have the basis for a modern social protection system that can provide targeted assistance to the poorest and most vulnerable on a long-term basis,” he added.
National Coordinator of NASSCO, Funmi Olotu, clarified that the staggered payments were due to President Tinubu’s directive to link all disbursements to NIN to ensure transparency.
“No more traditional cash payments. All transfers are direct debit to bank accounts. That is why some households have received one, two, or three tranches already,” she explained.
Olotu further noted that the National Social Register, developed with World Bank support, was built using over 40 socioeconomic variables and is free from political influence.
While the previous administration planned to pay ₦5,000 monthly for six months, the Tinubu government redesigned the scheme to provide ₦25,000 monthly for three months.