FG Disburses N330bn: 7 Million Poor Households to Get Cash Transfers Before Year-End
- About seven million vulnerable Nigerian households will receive cash transfers from the Nigerian government before the end of 2025
- The development was disclosed by Funmi Olotu, the national coordinator of the national social safety-net coordinating office
- This comes as the Minister of Finance, Wale Edun, said that the government disbursed about N300 billion to Nigerians in two years
Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy.
The Nigerian Federal Government has disbursed a substantial N330 billion in cash transfers to its poorest citizens, a critical intervention managed through the National Social Safety-net Coordinating Office.
This initiative, backed by an $800 million facility from the World Bank, aims to cushion the economic impact of the recent fuel subsidy removal and the floating of the Nigerian Naira, which have led to a surge in price levels across the country.
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Reaching the most vulnerable
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, confirmed these disbursements, highlighting the extensive reach of the program.
Approximately 19.7 million poor and vulnerable households, encompassing over 70 million individuals, are registered on the National Social Register.
The program initially targeted 15 million households, covering 75 million Nigerians.
To date, 8.5 million households have received at least one tranche of the promised N25,000, with some having received two or even three payments.
Edun emphasised the robustness of the payment system. Beneficiaries are identified biometrically through their National Identity Number (NIN), and payments are made digitally directly into their bank accounts or mobile wallets.
This ensures transparency and sustainability, a stark contrast to previous traditional cash payment methods.
The minister assured that the remaining 7 million households on the register are expected to receive their payments before the end of the year.
A modern approach to social protection
Funmi Olotu, the National Coordinator of the National Social Safety-net Coordinating Office, further clarified the staggered payment system.
She explained that the President's insistence on NIN-linked, direct debit transfers to bank accounts or mobile wallets was paramount to ensuring the program's transparency and accountability.
This direct payment method eliminates intermediaries and ensures that funds reach the intended beneficiaries efficiently.
Edun described the social safety net as a cornerstone of any modern economy. He articulated that Nigeria now possesses a strong framework to effectively target and support its most vulnerable populations on a long-term basis.
This system provides a robust mechanism for delivering interventions to those most in need, a promise made by President Bola Tinubu now being fulfilled.
Ensuring long-term sustainability
Looking ahead, the Minister indicated that special funds would be allocated in future federal government budgets to ensure the sustainability of this vital social protection program.
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This commitment to continuous funding underscores the government's recognition of the program's importance in providing ongoing assistance to citizens facing economic hardship.
“We expect that there will be the ability to budget each year for assistance for people to be paid directly to help them at any given point in time with an intervention,” Edun stated.
This proactive approach aims to embed social protection as a permanent feature of Nigeria's economic strategy, complementing other economic improvements and fostering a more inclusive and resilient society.
DBN disburses N1 trillion to small businesses
The establishment of this robust system for reaching the poor is a significant step towards achieving comprehensive social welfare in Nigeria.
Meanwhile, the Development Bank of Nigeria (DBN) has revealed that it disbursed about N1 trillion to small-scale businesses in the last 10 years, with women-owned businesses accounting for 62%.
The bank said it is committed to the growth of Nigeria’s economy by empowering small-scale businesses.
FG orders immediate release of ₦250bn loan
Legit.ng earlier reported that Vice President Kashim Shettima has directed the immediate implementation of the Presidential Food Coordinating Unit (PFSCU) to hasten the disbursement of the Nigerian government’s N250 billion credit support for smallholder farmers at a single-digit interest rate.
The VP asked the PFSCU to design an implementation strategy for the loan, reiterating the need to avoid delays in the disbursement and ensure that the right beneficiaries receive the funds.
The Vice President gave the directive on Thursday, September 11, 2025, at the 6th meeting of the Unit’s steering committee at the Presidential Villa in Abuja.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
