FG to resume cash disbursement to 15m households
The Federal Government has said it would restart the direct disbursement of cash to 15 million households in its drive to tackle poverty. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assured Nigerians that the government is committed to reducing inflation and lifting millions of Nigerians out of poverty. Speaking on Wednesday […]
Minister of Finance and Coordinating Minister of Economy, Wale Edun
The Federal Government has said it would restart the direct disbursement of cash to 15 million households in its drive to tackle poverty.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assured Nigerians that the government is committed to reducing inflation and lifting millions of Nigerians out of poverty.
Speaking on Wednesday in Uyo during the 2024 Ministerial Retreat with the theme: “Achieving the 8 Presidential Priorities: The Role of the Ministry”, Edun said the government would increase the direct cash disbursement from three to 15 million households, using technology to ensure a seamless process.
Edun stated that President Bola Ahmed Tinubu has directed the release of over 100,000 metric tonnes of grains to cushion the effect of the high cost of food items to protect the poor and most vulnerable.
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He mentioned that the Ministry of Finance is working with the Central Bank of Nigeria to bring down the exchange rate and stabilise the economy.
Edun said, “In the meantime, everything is being done to ease the pain of Nigerians. We have prepared to go to Mr President with an interim recommendation to restart the direct payment to the poorest and most vulnerable.
“The commitment was to make sure we use technology to make a seamless payment between the registered and direct beneficiary without any manual processes in between. Immediately, it is done, that direct payment would resume.
“There are about three million beneficiaries now but given the way the rate has gone, probably another 12 million households can benefit from that payment. Evidence has shown that when you pay someone directly, it reduces poverty. There is a commitment to immediately start that process.”