FG To Share N75k Each to 2.2m Nigerian Households, Names Beneficiaries

• The federal government is ready to transfer cash to over 2.2 million poor households across the country
• The funds will be credited to the accounts of beneficiaries, and there is a promise that it will kick off before the end of August
• According to the humanitarian ministry, over N419 billion has already been disbursed to five million Nigerians

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Minister of State for Humanitarian Affairs and Poverty Reduction, Tanko Sununu, has announced that 2.2 million poor households enrolled in the Federal Government’s social register will soon receive cash transfers.

He revealed that the funds will be sent in three tranches of N25,000 each, making a total of N75,000 per beneficiary.

Sununu, who spoke as a guest on Channels Television’s Sunrise Daily, said the President Bola Tinubu-led administration is committed to reducing poverty across the country.

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According to him, the government has already implemented various interventions to support the poor and vulnerable Nigerians nationwide.

He said:

“In the next few days to come, before the end of August, we are going to reach out to 2.2 million households."

The Minister explained that significant progress has been achieved under the Conditional Cash Transfer (CCT) programme, with hundreds of billions of naira already disbursed.

He stated:

“The process is such that the National Social Safety-Net Coordinating Office (NASSCO) will now harvest vulnerable Nigerians based on their lowest cadre in the national social register.

"For those Nigerians, it is a rapid conditional cash transfer. So far, we have disbursed N419 billion to five million Nigerians.

"We have distributed 71 per cent in the northern part and 21 per cent in the southern part of the country.”

Sununu disclosed that another round of disbursement would take place before the end of the month, Vanguard reports.

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His words:

"Another N54 billion will be disbursed at the end of August to almost 2.119 million Nigerians and we are shifting from doing transfer anonymously, it will be done publicly, we will call the Press and give data," Sununu added.

"We can even go as far as showing the number of beneficiaries for each state.

"Where we had problems before now was that things were not being made public, but now, as part of our accountability and transparency, we will tell each state, this is the amount we are giving to your state, and these are the beneficiaries.

"They can confirm, and anybody who wants to confirm can confirm with the World Bank."

FG invites Nigerians to apply for N50k for their business

Earlier Legit.ng reported that the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a conditional grant scheme for micro enterprises for strictly for small business owners.

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This government-backed scheme aims to provide conditional financial grants to nano businesses of up to N50,000.

The grant is aimed at boosting business sustainability, job creation, and local economic development

Source: Legit.ng