The Federal Government has disbursed N330 billion in cash transfers to poor and vulnerable Nigerians under its renewed social protection programme. The initiative, coordinated through the National Social Safety-Net Coordinating Office (NASSCO), is designed to cushion the impact of rising living costs on millions of households.

Speaking on Wednesday in Abuja at a meeting of the Special Presidential Panel on the Social Investment Programme, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said the programme is now firmly back on track. He noted that 19.7 million households, representing over 70 million individuals, are already captured in the National Social Register.

According to him, the cash transfers, which are funded from an $800 million World Bank facility, are targeted at 15 million households. So far, 8.5 million households have received at least one tranche of N25,000, while some have received two or three payments. The remaining seven million households are expected to be paid before the end of the year.

Edun explained that the intervention is anchored on a robust and sustainable framework. Beneficiaries are verified using their National Identity Numbers (NIN), and payments are made digitally through bank accounts or mobile wallets, ensuring transparency and accountability in the disbursement process.