The Federal Government has disbursed N330 billion in cash transfers to poor and vulnerable Nigerians through the National Social Safety-Net Coordinating Office (NASSCO).
“We are pleased to report that the social protection programme put in place as a safety net to help people cope with the rising price level is now firmly back on track,” the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said.
He spoke on Wednesday in Abuja at a meeting of the Special Presidential Panel on the Social Investment Programme.
“About 19.7 million poor and vulnerable households, representing more than 70 million individuals, are captured in the National Social Register.
“The cash transfers, funded from the 800 million dollars World Bank facility, were disbursed to 15 million households.
“So far, 8.5 million households have received at least one tranche of N25,000, while some have received two or three payments.
“The remaining seven million households will be paid before the end of the year,” he said.
The minister said that the programme is anchored on a robust and sustainable system with beneficiaries verified through their National Identity Numbers (NIN) and payments made digitally via bank accounts or mobile wallets.