FG to Expand Cash Transfer Programme, Target More Poor Nigerians

FG to expand cash transfer to more poor Nigerians.
Programme uses digital verification for transparency.
New ward-based initiative to support small businesses.

The Federal Government has announced plans to expand its direct cash transfer programme to include more poor and vulnerable Nigerians.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known on Tuesday while speaking at the Oxford Global Think Tank Leadership Conference and Book Launch in Abuja.

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EKO HOT BLOG reports that Edun said that although significant progress had been made in stabilising inflation and the exchange rate, more efforts were needed to reduce poverty and ensure that citizens benefit directly from the government’s ongoing economic reforms.

According to him, “There is an attempt to ensure that the pains of reform are immediately alleviated. That’s why there is a transparent, accountable, and robust system of providing direct payments to 15 million households.”

The minister explained that the government’s direct payment system is built on transparency and accountability, with a digital verification mechanism to ensure accuracy.

“In some places, people say they haven’t heard of anyone receiving the payments. We immediately call for the data to verify this because each individual is identified by name, national identity number, and paid digitally, either to a bank account or mobile wallet. There is accountability, transparency, and a record,” he added.

Edun revealed that the Federal Government intends to extend the programme to reach more Nigerians at the grassroots level as part of efforts to cushion the impact of current economic policies.

He further announced a new ward-based development initiative that will channel resources directly to Nigeria’s 8,809 wards across the 774 local government areas.

“This will empower economically active people at the ward level, small businesses and cottage industries, by providing support and financing. It’s a key element in ensuring that the benefits of current reforms and improvements reach right down to the local level,” he said.