WED, FEB 21 2024-theGBJournal|Minister of Finance and Coordinating Minister for the Economy, Wale Edun said Wednesday that Federal Government has concluded plans to restart direct cash transfer to the poorest and most vulnerable Nigerians amidst rising prices of goods and continuous fall of the naira.
Edun, announced the plan during a retreat of the ministry on February 21, 2024, in Uyo, Akwa Ibom State.
Approximately 3 million Nigerians currently benefit from these programs, with a projected additional 12 million households to benefit due to the sharp rise in the cost of living, totaling about 15 million households.
The expansion aims to reach a wider population struggling with the economic situation and to provide more money directly to those in need, allowing them to prioritize their needs and alleviate poverty.
Technology will be utilized to ensure smooth and transparent payments, avoiding manual processes and delays.
Edun said a Presidential panel will recommend restart of direct cash payments, with plans to meet President Bola Tinubu for approval.
The decision to inform the President before the final report is completed is to keep him updated on developments.
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