The federal government says it has already disbursed about N330 billion in cash transfers to poor and vulnerable households across Nigeria under its revived social protection scheme.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known on Wednesday in Abuja.
He explained that the programme, which had been delayed earlier because of biometric data integration with the National Identity Number (NIN), is now back in full swing.
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“We are pleased to report that the social protection programme, the putting in place of a safety net to help people cope with the rising price level, is now firmly back on track,” Edun said.
So far, 8.5 million households out of the targeted 15 million have received at least one tranche of the N25,000 monthly payment, while some households have already collected up to three.
“Each household is expected to receive three payments in total. The remaining 7 million households will be paid before the end of the year,” he added.
Edun stressed that the initiative is not just for short-term relief but also serves as a foundation for building a modern social protection system.
“Nigeria now has the basis for a modern social protection system. That was the promise of Mr President. That is what he is now putting in place,” the minister said.