The federal government is set to restart the direct cash transfer to eligible Nigerians as part of measures to cushion the current economic hardship in the country.
This was revealed on Wednesday by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during the Ministry’s retreat held in Uyo, Akwa-Ibom state.
According to him, the government plans to give the cash transfers to the poorest and most vulnerable Nigerians.
Edun stressed that the federal government’s direct cash transfers, which has about three million beneficiaries, would now be expanded so another twelve million can benefit from the scheme.
According to the finance minister, “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’’ End quote
The Minister said the decision to inform the President of the Panel’s decision before the final report is completed to keep the President abreast of developments. He added that technology will be used to ensure smooth and transparent payments, avoiding manual processes and delays.
Explaining why the government wants to adopt the direct cash transfer method, Edun said it has proven to be a valid means of reducing poverty