The Federal Government has restarted the provision of conditional N75,000 cash transfers to 75 million Nigerians to caution the effect of inflation.
Finance minister, Wale Edun stated this on Tuesday at a ministerial briefing in Abuja to mark the first year in office of the President Bola Tinubu administration.
According to Edun, the beneficiaries of the social investment scheme are 15 million households nationwide.
He said:
“As the Chairman of the Presidential Panel of Social Investment program, the all-important direct payment to the less privileged.
“Which is the veritable tool and sharpest tool we can have for attacking increased living standards.
That program has been restarted.
It involves 75 million Nigerians and 15 households with the payment of N75,000 in the immediate term.
“To ensure public trust is there we have a system that has developed between the Ministers of Communications and Digital Economy, Health, and Youths with a global best standard in providing direct payment.
“On the one hand, each person must have a National Identity Number, secondly, the payment must be through digital routes. Whether BVN, that is bank account Accounts or mobile wallets.
“Mobile Network operators have been recruited to ensure we have a faster rollout of the program.
That is one of the KEYWAYS initially that the needy and vulnerable will be helped”.
