Cash transfer scheme : 25 million Nigerians have received N25,000 – FG

The Federal Government announced on Thursday that 25 million citizens have benefited from the N25,000 conditional cash transfer programme.

Wale Edun, Minister of Finance and Coordinating Minister of the Economy, shared this update while briefing journalists following the National Economic Council (NEC) meeting, led by Vice President Kashim Shettima.

During the briefing, Edun outlined efforts by President Bola Tinubu’s administration to alleviate the economic impact of subsidy removal and other policy adjustments on Nigerians.

Additionally, Edun said around five million households have benefited directly from these cash transfers. Over the past five days alone, approximately 11,000 people received ₦3.5 billion under the government’s consumer credit initiative, he noted.

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Edun also stated that under the student loan program, more than ₦90 billion has been distributed to roughly 500,000 Nigerian students.

The NEC meeting also addressed the devastating impact of recent floods across Nigeria. According to Anambra State Governor, Professor Charles Soludo, 321 people have lost their lives in flood incidents affecting 34 states. Soludo reported that over 1.2 million individuals were displaced, and more than a million homes were destroyed. Extensive damage to farmland has also been recorded.

The NEC expressed deep concern about the floods and emphasized the need for prompt action to support affected communities.