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Nigerian Government to Disburse N25,000 Cash Transfer to 15 Million Households

Olusola Blessing by Olusola Blessing
December 24, 2024
in Business, News
0
Nigerian Government to Disburse N25,000 Cash Transfer to 15 Million Households
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The Federal Government is set to provide conditional cash transfers to 15 million households, impacting an estimated 75 million Nigerians, according to the Minister of Humanitarian Affairs, Disaster Management, and Social Development, Nentawe Yilwatda.  

Speaking on Channels Television’s *The Morning Brief*, Yilwatda outlined that each household will receive ₦25,000 monthly, distributed three times a year. This initiative aligns with President Bola Tinubu’s efforts to alleviate economic hardship for vulnerable Nigerians.  

“The President is prioritizing policies to address challenges faced by those at the bottom of the social pyramid. By targeting 15 million households, we estimate reaching 75 million individuals based on an average household size of five,” the minister explained.  

Yilwatda revealed that five million individuals have been reached so far, but only 1.4 million are registered with digital identities, as mandated by the Central Bank of Nigeria (CBN) for transparency. Efforts are ongoing to sanitize the social register and include more beneficiaries, particularly those outside the formal banking sector.  

Women are being prioritized as household leaders to ensure funds directly benefit children and other vulnerable family members.  

The scheme, previously suspended in January over alleged corruption, was restarted in February with plans to add 12 million more households to the program.

 

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