The Federal Government, under President Bola Tinubu’s approval, will soon kickstart direct cash transfers to assist Nigerians amid the current challenges.
The Minister of Finance, Wale Edun, revealed plans to extend cash disbursements to 15 million Nigerians, up from the current three million, as part of efforts to tackle poverty.
Emphasizing simplicity and efficiency, Edun highlighted the use of technology for seamless payments directly to beneficiaries.
Addressing the macroeconomic stability achieved since May 29, Edun stressed a shift from wasteful expenditures to prioritize the majority, particularly the vulnerable.
Acknowledging elevated food prices, President Tinubu’s interventions include releasing grains to stabilize markets and alleviate costs, demonstrating a commitment to supporting the most affected.
Collaborating closely with the Central Bank, efforts to stabilize the exchange rates and combat inflation are underway, with a focus on revenue initiatives to ease economic burdens.
The Ministerial Retreat, themed ‘Achieving the 8 Presidential Priorities: The Role of the Ministry,’ underscores the government’s commitment to realizing its agenda for national renewal.
Governor Umo Eno of Akwa Ibom State urged policymakers to prioritize sectors like agriculture, ICT, and solid minerals to drive economic diversification, emphasizing the collective responsibility of all stakeholders in nation-building.
