Tinubu administration asserts that funds are being allocated to support poor and vulnerable Nigerians

The government led by President Bola Tinubu has announced that funds are now being distributed to the nation’s poorest and most vulnerable citizens.

This update was shared by the Federal Ministry of Finance through a statement on its official X handle.

The statement highlighted a significant meeting led by Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at the Finance Headquarters. The meeting, which was part of the Presidential Panel on the Social Investment Program (SIP), reviewed the progress of the Direct Benefit Transfer (DBT) program, introduced new members of the National Social Investment Program (NSIP), and discussed the Youth Employment Benefits scheme, including its key design aspects.

The discussions revealed notable advancements in the direct transfer of funds to the country’s most impoverished and vulnerable populations. A new draft for the Youth Employment Benefits scheme was also introduced, aiming to tackle youth unemployment through targeted measures.

The Minister emphasized the importance of transparency and accountability in implementing social investment policies, advocating for systems that enable citizens to track and verify the effectiveness of these initiatives.

The government recently launched the Grants for Vulnerable Groups scheme, which provides a one-time cash grant of N20,000 to the most disadvantaged Nigerians in rural areas. Nigeria faces a significant poverty challenge, with 133 million people considered poor, including 86 million in Northern Nigeria and 47 million in the South.