As President Bola Tinubu marks his one year in office as Commander in Chief today, the administration announced the resumption of the provision of conditional direct cash transfers to vulnerable Nigerians.
Minister of Finance, Wale Edun, disclosed this on Tuesday at a ministerial sectoral briefing to mark the first year in office of the President Bola Tinubu administration in Abuja.
He noted that the beneficiaries of the social investment scheme are 15 million households nationwide.
Edun who is the chairman of the Presidential Panel of Social Investment programme explained that the cash transfer will improve the living standard of Nigerians in the immediate term.
According to him, the Government has developed a system to ensure that payments get directly to beneficiaries through digital routes.
Edun announced that the government has recruited Mobile Network operators to fasten the roll-out of the scheme.
He stated beneficiaries must have a National Identity Number, account number or mobile wallets to receive the cash transfer payments.
“As the Chairman of the Presidential Panel of Social Investment program, the all-important direct payment to the poor.
“Which is the veritable tool and sharpest tool we can have for attacking increased living standards. That program has been restarted.
“It involves 75 million Nigerians and 15 households with the payment of N75,000 in the immediate term.
“To ensure public trust is there we have a system that has developed between the Ministers of Communications and Digital Economy, Health, and Youths with a global best standard in providing direct payment.
“On the one hand, each person must have a National Identity Number, secondly, the payment must be through digital routes. Whether BVN, that is bank account Accounts or mobile wallets.
“Mobile Network operators have been recruited to ensure we have a faster rollout of the program. That is one of the key ways initially that the poor and vulnerable will be helped”, he said.
On January 12, Tinubu suspended all the programs administered by the National Social Investment Programme Agency and Humanitarian Ministry over alleged misappropriation.
Recall that Tinubu suspended the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu on January 8 over alleged funds’ mismanagement under NSIPA.
Meanwhile, the German government has acknowledged the reforms agenda of the present administration as the “bold steps” taken by President Bola Tinubu since he assumed power on May 29, 2023, toward elevating the country.
The German Ambassador to Nigeria, Annett Gunther, who tendered the acknowledgement in an interview with NAN in Abuja, pointed to the administration’s efforts in the past year to bolster the oil sector, tackle insecurity, and combat corruption.
Gunther underscored the need for the Federal Government to stay focused on the economic reforms taking place, saying they were long overdue.
“The nation’s economic reforms were long overdue, and it took Tinubu courage to implement them, knowing they would come with short-term costs like inflation,” she said.
The German envoy maintained that Tinubu’s reform measures would eventually help stabilise and strengthen Nigeria’s economy, saying the president’s actions are crucial to providing vital social services to citizens.
“I would not say the president has done everything, but he is on the right track, and we are eager to support and work together to make meaningful progress and achieve this goal,” Gunther said.
She spoke of the need for the Tinubu-led government to strengthen its security agencies to put an end to kidnapping, killings, and other related crimes.
According to her, Germany is ready to help Nigeria tackle insecurity, as doing so will foster nation-building, transparency in governance, and the enthronement of democracy’s dividends.
“We have been working closely with the National Security Adviser and Inspector General of Police.
“We have been actively engaged in police reforms in Nigeria.
“We have experienced former German police officers who have trained more than 1,000 trainers in Nigeria, who have trained many other police officers.
“We have also equipped and refurbished the police training college, and we are proud to be the largest donor in this area, and it did not happen overnight.
“We are working with the administration to progress in governance and security,” she added.
