The government has revealed a new initiative to resume giving money directly to the poorest and most vulnerable people in Nigeria due to the ongoing economic crisis.
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, shared this plan during a retreat held by the Ministry in Uyo, Akwa-Ibom state on Wednesday, February 21st.
“The presidential panel on the social investment programmes, have prepared to go to Mr. President with an internal recommendation to restart the direct payments to the poorest and the most vulnerable. Everything is being done to ease the pain,” Edun said.
“We know that there’s been about 3 million beneficiaries now, but given the way the rates have gone, there are probably another 12 million people, households that can benefit from that payment.”
He mentioned that the direct cash transfer program is being expanded to help more people facing economic challenges by providing money directly to those in need. This will allow individuals to address their most pressing needs and reduce poverty.
Wale Edun also mentioned that technology will be used to make payments more efficient and transparent, eliminating manual processes and delays.
He said: “The only thing delaying is not waiting for the end of the report. It is something that the intervention is meant to happen immediately.
“We have experts in technology, the commitment was to make sure that we use technology to ensure that we have a seamless payment, a seamless movement between the registered and the direct beneficiaries, without any manual processes in between. So it’s taking time to automate that process immediately that direct payment will resume”.
