FG Confirms ₦330bn Cash Transfers to 15 Million Vulnerable Households

By: Aremu Toyeebaht

The Federal Government has disbursed ₦330 billion to support poor and vulnerable Nigerians under the National Social Safety-Net Coordinating Office (NASSCO), reinforcing efforts to mitigate the impact of rising living costs.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed the update on Wednesday during a meeting of the Special Presidential Panel on the Social Investment Programme in Abuja.

In a statement shared by Presidential aide Bayo Onanuga, Edun highlighted that the initiative, funded through a $800 million World Bank facility, is now fully operational.

“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,” he said.

Edun explained that roughly 19.7 million poor and vulnerable households, representing over 70 million Nigerians, are recorded in the National Social Register, with 15 million households selected for immediate cash transfers.

To date, 8.5 million households have received at least one tranche of ₦25,000, with some receiving two or three payments. The remaining seven million households are expected to benefit before the end of the year.

Emphasizing transparency and accountability, Edun noted that all beneficiaries were verified through their National Identity Numbers (NIN) and that payments are executed digitally, via bank accounts or mobile wallets.

The Finance Minister reaffirmed that President Bola Tinubu’s administration is committed to sustaining the programme as part of broader economic reforms targeting support for Nigeria’s most vulnerable citizens.