In a bold effort to combat the economic difficulties faced by many Nigerians, President Bola Tinubu’s administration is gearing up to significantly expand its direct cash transfer program, aiming to support an additional 12 million people. This was announced by Wale Edun, the Finance Minister and the economy’s coordinating minister, during a ministry retreat in Uyo, Akwa-Ibom State.
Originally set up to aid 3 million Nigerian families, the program’s expansion reflects the government’s responsive action to the growing financial strain experienced by citizens. Edun shared insights on the government’s plan, mentioning that a presidential panel on social investment is finalizing recommendations to reboot and broaden the cash assistance to include the nation’s most impoverished and vulnerable.
Highlighting the urgent need for this initiative, Edun pointed out that due to the economic downturn, an estimated 12 million more households are now in dire need of this support. He reassured that the only holdup in rolling out this enhanced assistance isn’t about wrapping up reports but about perfecting a tech-driven system to facilitate direct, hassle-free payments to the beneficiaries.
“We’re putting a lot of effort into making sure that we can use technology to seamlessly transfer funds directly to those in need, cutting out any manual processes that could slow things down. Once we’ve got this system automated, we’ll be able to kickstart the direct payments right away,” said Edun.
This move marks a significant step by the government to provide a lifeline to its citizens through these tough times, focusing on technology to make social investment programs more effective and far-reaching.
