FG to disburse N75,000 to 15m Nigeria households under cash transfer program

Cynthia Egboboh 
BUSSINES DAY February 23, 2024

 

The federal government has disclosed plans to disburse at least N75,000 to 15 million households in three years. This is as it strategies on reintroducing the cash transfer program which was suspended in January 2024.

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy disclosed this in an interview on channels television, which was monitored by BusinessDay.
According to the Minister, the program is part of efforts of President Tinubu to ameliorate the hardship, including elevated food prices being experienced across the country.

“What I think is important to say at this time is that food prices at this time are elevated and we all know it is part of the general expected rise in inflation amacroeconomiconomic measures, as the reform measures, the corrective measures to put the economy on a straight path take effect.

“But I think the important thing to point out at this time is that the focus Mr. President, is on keeping his promise, particularly to the poor and vulnerable, as food prices elevates and the purchasing power is limited. And that is what Mr President is speaking to directly through the intervention of direct payments of N75,000 each, in three years, that is N25,000 a month to 15 million households. And each household is about five people. So that effectively provides funding for 75 million people,” he said.