FG restarts cash transfer scheme to aid families

Nigeria’s Finance Minister, Wale Edun, announced that over 600,000 households have received cash transfers from the federal government since the resumption of payments.

Following a temporary pause for evaluation, the programme has now restarted.

The cash transfer program was suspended by President Bola Tinubu on July 18, 2023, for a review period.

The programme is managed by the National Social Investment Programme Agency (NSIPA) and was paused for six weeks to look into possible mismanagement.

Information Minister Mohammed Idris confirmed on the radio that the government planned to restart these social help programs.

At a press briefing, Edun said President Tinubu is committed to helping ordinary Nigerians with transparent and accountable welfare programs.

He reported that since payments resumed, over 600,000 households received money this week.

Edun also spoke about the government’s progress in economic reforms, aiming to improve revenue in line with the 2024 budget.

He mentioned stopping the reliance on borrowing and predicted a 4% budget deficit for the year.

He highlighted positive results like lower inflation and more foreign investments compared to last year.

The government aims to tackle inflation by increasing local food production, thereby reducing food prices, which have a significant bearing on inflation.

Edun expressed confidence in the economy’s rebound, forecasting sustained growth, job creation, poverty reduction, and increased investments to enhance the overall well-being of citizens.