Tinubu’s anniversary gift: FG plan fresh direct cash transfer to Nigerians

The Nigerian federal government has announced plans to resume direct cash transfers to the country’s poorest and most vulnerable citizens. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, made this announcement during a ministry retreat in Uyo, Akwa Ibom State, on Wednesday.

This initiative comes at a time when millions of Nigerians are grappling with severe economic hardship, including skyrocketing prices of goods and food items, and the continuous depreciation of the naira. The Presidential Panel on Social Investment Programmes has identified 3 million vulnerable Nigerians to receive these direct payments.

“The presidential panel on social investment programmes is set to recommend to the President the resumption of direct payments to the poorest and most vulnerable. Every effort is being made to alleviate the suffering,” Edun said. He noted that while there are currently 3 million beneficiaries, an estimated additional 12 million households could also benefit.

The implementation is pending the finalization of automation processes to ensure seamless and secure payments. “We are committed to using technology to ensure smooth transactions between registered beneficiaries and the payment system, eliminating manual processes,” Edun added.

In January, President Bola Ahmed Tinubu suspended Halima Shehu, the national coordinator of the National Social Investment Programme Agency, and Betta Edu, over financial misconduct.

1. The DAILY POST reports that citizens in Kogi, Niger, Oyo, and other states have been protesting against the soaring cost of living. Nigeria’s economic crisis, marked by a record food inflation rate of 35.42% in January according to the National Bureau of Statistics, has left many struggling to afford basic necessities.