In a significant move to mitigate the effects of inflation, the Nigerian government has reinitiated the conditional cash transfer program, distributing N75,000 directly to 75 million citizens. This initiative was disclosed by the Minister of Finance, Wale Edun, during a ministerial sectoral briefing commemorating the first year in office of President Bola Tinubu’s administration in Abuja.
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Targeting 15 Million Households
Edun, who chairs the Presidential Panel of the Social Investment Programme, explained that this social investment scheme targets 15 million households nationwide. The primary objective is to immediately improve the living standards of the beneficiaries.
Ensuring Efficient and Transparent Payments
To ensure the effectiveness and transparency of the cash transfers, the government has developed a robust system that utilizes digital routes for disbursing payments directly to beneficiaries. According to Edun, each beneficiary must have a National Identity Number (NIN), and the payments will be made through bank accounts or mobile wallets.
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Collaboration with Mobile Network Operators
The government has also partnered with Mobile Network Operators (MNOs) to expedite the rollout of the scheme. This collaboration aims to ensure that the cash transfers reach the intended recipients promptly and efficiently.
Background and Rationale
The revival of this program comes after President Tinubu suspends all programs administered by the National Social Investment Programme Agency (NSIPA) and the Ministry of Humanitarian Affairs over allegations of misappropriation in January. The suspension included the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, who was accused of funds mismanagement under the NSIPA.
Commitment to Social Welfare
Edun emphasized that direct cash transfer is a crucial tool for addressing increased living costs and elevating living standards among the poor and vulnerable segments of society. “This program involves 75 million Nigerians and 15 million households receiving N75,000 in the immediate term. It is one of the key ways the government is initially helping the poor and vulnerable,” he stated.
Conclusion
With the government’s renewed focus on social welfare and direct intervention through digital means, this initiative is poised to make a significant impact on the lives of millions of Nigerians. The efficient execution of the cash transfer program underscores the administration’s commitment to transparency and public trust.
For further details, visit the original announcement here.
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