The Federal Government of N
igeria has announced its intention to recommence direct cash transfers to the country’s poorest and most vulnerable citizens. This decision was disclosed by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during the ministry’s retreat held in Uyo, Akwa Ibom State, on Wednesday.
Minister Edun revealed that the presidential panel on social investment programs has formulated recommendations to restart direct payments to those most in need. He emphasized the urgency of the situation, stating that millions of households could benefit from this initiative, with approximately 12 million additional potential beneficiaries identified.
The delay in reinstating the cash transfer program, according to the minister, is not due to the lack of readiness but rather the need to ensure a seamless and automated process. He stressed the government’s commitment to utilizing technology to facilitate transparent and efficient disbursement without manual intervention.
“The goal is to provide immediate relief by injecting funds into the market, particularly to mitigate the rising cost of food and enhance food accessibility,” Minister Edun remarked, highlighting the primary focus of the government’s fiscal strategy.
The announcement comes amid ongoing efforts to address socioeconomic challenges exacerbated by factors such as inflation and the lingering impacts of the COVID-19 pandemic. The resumption of direct cash transfers aims to alleviate financial strain on vulnerable households and stimulate economic recovery.
As the government proceeds with its plans, stakeholders anticipate tangible outcomes in reducing poverty and enhancing livelihoods across Nigeria.
