
The Federal Government of Nigeria has announced a pivotal initiative to transfer cash to 20 million of the country's poorest citizens. This social investment program, spearheaded by direct transfers, aims to reach 60 percent of the poorest population.
As of now, 4 million households are already benefiting from this initiative, and it is set to expand to cover 15 million households directly. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, highlighted that this program is part of a broader agenda for economic reform, which includes efforts to reduce inflation, create jobs, and stimulate growth in key sectors such as agriculture, manufacturing, oil, and housing.

President Bola Tinubu's administration is utilizing increased government revenue, which more than doubled in the first half of 2024 compared to the same period in 2023, to fund these social programs. The government is also focusing on improving food production to make it more available and affordable, thereby reducing the cost of living for Nigerians.
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