The Federal Government of Nigeria has disbursed an impressive ₦330 billion through its ongoing cash transfer program aimed at alleviating poverty and cushioning the effects of economic hardship.
According to the Minister of Finance, Mr. Wale Edun, the payments were made under the government’s social investment initiatives designed to provide direct financial assistance to vulnerable households across the country.
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Edun explained that the program reflects President Bola Tinubu’s commitment to improving social welfare and reducing the burden of rising living costs on millions of low-income Nigerians. He noted that the funds were strategically allocated to reach the poorest households, stimulate local economies, and foster financial inclusion.
The Minister added that transparency and accountability measures were put in place to ensure that the cash transfers directly reached the intended beneficiaries without diversion or mismanagement. He emphasized that the initiative is part of broader economic reforms aimed at creating a sustainable safety net for Nigeria’s most vulnerable citizens.
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Economic experts say the ₦330 billion cash transfer initiative could help reduce short-term poverty levels and improve access to basic needs while supporting micro-enterprises in rural and urban communities alike.
With more Nigerians facing economic challenges, the government says it will continue to prioritize social welfare spending and scale up interventions to ensure that the benefits reach those who need them the most.
