- The Federal Government has announced a cash transfer initiative aimed at supporting 20 million impoverished Nigerians
- Minister of Finance Wale Edun clarified the programme’s role in stimulating economic growth and providing immediate relief
- Stakeholders call for transparency and accountability as the government prepares to implement the initiative
The Federal Government has announced a comprehensive cash transfer initiative aimed at reaching 20 million impoverished Nigerians.
The initiative was unveiled by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a press conference held earlier today, October 16.
According to Edun, the cash transfer programme is part of a broader strategy to stimulate economic growth and provide immediate relief to families facing financial hardship.
“This initiative represents our commitment to ensuring that no Nigerian is left behind,” Edun stated, expressing the government's focus on social welfare in the face of rising economic challenges.
The programme, which is set to launch in the coming months, will provide direct financial assistance to eligible households.
Details regarding the application process and the amount of aid disbursed are expected to be released shortly. The government aims to utilise existing social welfare frameworks to efficiently implement the program.
Economic analysts have welcomed the announcement, highlighting its potential to bolster local economies and improve the standard of living for millions.
However, concerns have been raised about the sustainability of such a large-scale initiative, particularly in light of Nigeria’s current economic conditions.
As the government prepares to roll out the programme, stakeholders, including civil society organisations, are urging transparency and accountability in the distribution process to ensure that aid reaches those who need it most.
FG unveils plans to distribute high-yield seedlings to combat food production and inflation
Meanwhile, TheRadar previously wrote about the Federal government's plan to boost food production with high-yield seedlings for dry-season farming to combat increasing food prices.
This plan was announced by Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, along with senior officials from the Federal Ministry of Agriculture, the African Development Bank (AfDB), and Flour Mills of Nigeria, in Abuja on Tuesday, September 24.
