No fewer than 15 million households are to benefit from the Federal Government’s direct cash transfer, which it plans to resume soon.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed this at a retreat of the ministry on Wednesday, in Uyo, Akwa Ibom State.
Edun said that the presidential panel on social investment programmes is set to meet with President Bola Tinubu and recommend the resumption of the direct cash payments to the poorest and most vulnerable Nigerians.
“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.
“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 said.
Edun further noted that the expansion of the direct cash transfer aims to reach a wider population struggling with the economic situation and to put more money directly in the hands of those who need it most, allowing them to prioritize their needs and alleviate poverty.
The minister stated that the decision to inform the President of the panel’s decision before the final report is completed is to keep the him abreast of developments, adding that technology would be used to ensure smooth and transparent payments, avoiding manual processes and delays.
“The only thing delaying that 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,” he added.