FG plans fresh cash transfer scheme for 75 million Nigerians

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According to the minister of finance and coordinating minister of the economy, Wale Edun, the scheme would provide direct payments to 75 million Nigerians in 50 million households to reduce the suffering of citizens, especially vulnerable groups.Edun announced this at the ministerial sectoral briefing to mark the first year in office of the President Bola Tinubu administration in Abuja.

The president also suspended Betta Edu as the minister of Humanitarian Affairs and Poverty Alleviation on January 8. The intervention programmes affected include the N-Power, the conditional cash transfer scheme, the government enterprise and empowerment programme, and the home-grown school feeding initiative.

To revamp the programme, Tinubu approved the establishment of a Special Presidential Panel, led by Edun to carry out an intensive review and audit of the existing financial frameworks and policy guidelines of the social investment programmes. Edun said, “I am duty-bound to give you an overview of the strategy, policies, and implementation of Mr President’s reform programme. Immediately upon assuming office, Mr President launched macroeconomic reforms to restore stability to the Nigerian economy, including subsidy reforms and foreign exchange market reforms.

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