The Federal Government intends to resume direct cash transfers to the country’s most impoverished and vulnerable citizens.
Currently, around three million people benefit from the programs, according to Wale Edun, the Minister of Finance and Coordinating Minister for the Economy.
Edun, who spoke during the Ministry’s retreat in Uyo, Akwa-Ibom State, revealed that given the rising cost of living, the government foresees that an additional 12 million households could become eligible for these direct payments.
The Minister stressed that expanding the direct cash transfer program aims to assist a broader population grappling with economic challenges.
By putting more money directly into the hands of those in need, he said, will enable them to prioritize their necessities and alleviate poverty.
The finance minister said:
“The presidential panel on the social investment programmes have prepared to go to Mr. President with an internal recommendation to restart the direct payments to the poorest and the most vulnerable. Everything is being done to ease the pain.
“We know that there’s been about three million beneficiaries now, but given the way the rates have gone, there are probably another 12 million people, households that can benefit from that payment.”
Also, he stated that the decision to inform the President Bola Tinubu about the Panel’s preliminary findings before the final report has been completed.
Edun also pointed out that technology will facilitate seamless and transparent payments, eliminating manual processes and delays.
He said:
“The only thing delaying that is not waiting for the end of the report. It is something that the intervention is meant to happen immediately.
“We have experts in technology, the commitment was to make sure that we use technology to ensure that we have a seamless payment, a seamless movement between the registered and the direct beneficiaries, without any manual processes in between. So it’s taking time to automate that process immediately that direct payment will resume.”
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