Business News of Friday, 17 January 2025

Source: www.mynigeria.com

FG opens up on sharing N75,000 cash to 70m Nigerians

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The Nigerian government has planned provide N75,000 in cash to about 70 million Nigerians who are considered to be among the "poorest of the poor."

The initiative is part of President Bola Tinubu's goals to fight extreme poverty and create a more extensive social safety net.

Prof. Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Reduction, made this known on Thursday, January 16, 2025, on Arise Television's 'The Morning Show'.

According to him, the ministry plans to implement the program throughout the 36 states of the Federation by the end of January 2025 to register up to 18.1 million Nigerian homes using the National Identity Number (NIN) system.

He said: “We want to deploy by the end of January across 36 states to ensure we start harvesting the NIN number of up to 18.1 million Nigerian households that we need to capture as fast as possible so that we can make payment for them.

“The target of the President is that we should target 15 million households. And an average household is about 4 to 5. We are discussing here roughly about 70 million households with about N75,000 per person this year.

“We are doing the data capturing, but for now, the poorest of the poor that we have in our data is only 1.4 million with NIN. We are working with NIMC, deploying resources, and conducting training. NIMC has brought in more devices under a program with the World Bank to assist us in data capturing for those without NIN numbers.

“We are training in some states like Rivers, Kwara, Abuja, and Nasarawa, among others, and deploying to these states in the first round.

"By the end of January, we want to deploy across the 36 states to start capturing the NIN numbers of up to 18.1 million households. This will enable us to make payments to them for Conditional Cash Transfers.”