FG To Resume Direct Cash Disbursement To 15m Households

FG To Resume Direct Cash Disbursement To 15m Households

Cash Disbursement: To combat poverty, the federal government said that it will resume directly distributing funds to 15 million households.

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, gave Nigerians assurances that the administration is dedicated to bringing millions of people out of poverty and lowering inflation.

At the 2024 Ministerial Retreat in Uyo, which had as its theme “Achieving the 8 Presidential Priorities: The Role of the Ministry,” Edun announced on Wednesday that the government would expand the direct cash disbursement from three to fifteen million households, utilizing technology to guarantee a smooth operation.

According to Edun, President Bola Ahmed Tinubu has ordered the release of more than 100,000 metric tonnes of grains to safeguard the most vulnerable and impoverished people from the impact of the high price of food.

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He said that to stabilize the economy and lower the exchange rate, the Ministry of Finance is collaborating with the Central Bank of Nigeria.

“Everything is being done to ease the pain of Nigerians in the interim,” stated Edun. We are ready to present the President with a temporary proposal to reinstate the direct payment to the most disadvantaged and defenseless members of society.

“We pledged to use technology to ensure that payments between the direct beneficiary and the registered party are made smoothly and without the need for any manual processes in between. After it is finished, direct payment will start up again.

“Around three million people are currently beneficiaries, but given the rate at which it has increased, another 12 million households could stand to gain from that payment.” Research indicates that directly paying someone lowers their level of poverty. There is an agreement to begin that process right away.

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