The Federal Government has announced the disbursement of ₦330 billion in cash transfers to poor and vulnerable Nigerians under its social safety net program.1 The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the disclosure, stating that the initiative is part of the government’s strategy to cushion the impact of recent economic reforms on the populace.2
The program, which is funded in part by an $800 million loan from the World Bank, aims to reach 15 million households.3 According to the Minister, so far, 8.11 million households have received their first tranche of ₦25,000, with some receiving two or three payments.4 Edun attributed the earlier delays in disbursement to the required verification of beneficiaries through their National Identification Numbers (NIN) and Bank Verification Numbers (BVN).5
The National Social Safety-Net Coordinating Office (NASSCO) is overseeing the program, which relies on a National Social Register containing over 19.7 million households.6 The government has emphasized that all payments are being made digitally to ensure transparency and accountability, with beneficiaries receiving funds directly into their bank accounts or mobile wallets.7
Edun also revealed that the government plans to institutionalize the program by including it in the nation’s annual budget.8 This move is intended to ensure the sustainability of the social safety net and provide long-term, targeted assistance to those most in need.9
