The Federal Government has disbursed N330 billion in cash transfers to poor and vulnerable Nigerians, under its National Social Safety-net Coordinating Office (NASSCO) initiative.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this during a press briefing in Abuja, noting that the programme aims to alleviate the economic hardship caused by fuel subsidy removal and exchange rate reforms.
The initiative is funded by a $800 million World Bank facilityand is part of President Bola Tinubu’s broader social protection strategy.
“Of the 15 million households targeted under the programme, 8.5 million have received at least one payment of ₦25,000, with some getting two or three tranches,” Edun said.
He explained that the households are drawn from the National Social Register, which contains data on approximately 75 million Nigerians from 20 million households.
The minister highlighted the use of biometric verification (via NIN) and digital transfers through bank accounts or mobile wallets to ensure transparency and prevent fraud.
“We now have a robust, transparent, and scalable system for reaching the poorest Nigerians,” he said, adding that the programme will be sustained through future federal budgets.
Edun assured that the remaining 7 million households will receive their payments before the end of 2025.
“Going forward, this initiative will be embedded in the annual national budget to ensure continuity,” he added.
Funmi Olotu, National Coordinator of NASSCO, explained that the staggered payments were due to efforts to verify beneficiaries through their National Identity Numbers (NIN).
“As directed by the President, all payments are made via direct transfers and no physical cash payments,” she said. “This ensures accountability and transparency.”
