12m Vulnerable Nigerians To Benefit from FG Direct Cash Transfer Soon To Alleviate Hardship, Says Finance Minister

From Imoh ESSIEN (Uyo)

As part of its effort to alleviate harsh economic hardship on citizens, the federal government is set to re- lunch direct cash transfer to 12 million vulnerable Nigerians across the 36 states.

The Minister of Finance and Coordinating Minister of Economy, Chief Wale Edun, who disclosed at a retreat, organised by Federal Ministry of Finance in Uyo, Akwa Ibom state, maintained that initially the programme was projecting only 3 million citizens, but after reconsidering the current harsh economic realities, the number of beneficiaries were increased to 12 million.

Edun noted that the Presidential Panel on Social Investment Programmes (SIP) would approach Mr. President with an internal recommendations to restart direct transfer to the poorest and the most vulnerable citizens, adding that everything are in place to ease the pains of the people.

It would be recalled that President Bola Tinuba had suspended management of the National Social Investment Programme Agency (NSIPA) and it's activities in January, which affected the conditional cash transfer scheme and three others.

But speaking about recommencement of the project, the Minister explained that the Nigerian leader would be inform about the programme, with technology deployed to ensure smooth and transparent payment.

While defending the cash transfer programme, Edun stated that" history has shown, evidence has shown that when you pay someone directly, you put money in their hands.

It reduces poverty because they decide where the shoe is pinching the most.

So, it is direct benefit, it has direct effect on poverty. It alleviate, and there's a commitment to immediately start that process."

He expressed optimism that the federal government is working assiduously to restore the value of the naira so as to ease the pains currently suffered by Nigerians owing to the dwindling economy.