The Federal Government said 8.1 million households are now beneficiaries of its National Social Safety Net Programme, designed to cushion the impact of economic reforms on the poorest and most vulnerable citizens.
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this on Wednesday in Abuja after a review meeting of the special presidential panel on social investment, inaugurated by President Bola Tinubu in February 2024.
He said that 8.1 million households have been paid, with a beneficiary coverage rate of 54 per cent, and an additional 2.2 million households paid from the last reporting cycle due to successful BVN/NIN validation, noting that the delay in disbursement pace was due to a lag from NIN enrolment.
Edun said the programme currently covers 19.7 million households on the national social register, representing about 70 million Nigerians, stressing that this marks an expansion from the initial target of 15 million households.
“We are pleased to report that the social protection programme, which provides a safety net to help Nigerians cope with rising prices, is now firmly back on track. Already, 8.1 million households have received at least one tranche of the ₦25,000 promised to them, with two more payments outstanding. Some households have received two or three tranches, depending on verification.”
He explained that beneficiaries are identified biometrically using their National Identification Number (NIN) and paid digitally through bank accounts or mobile wallets, creating what he described as a “robust and sustainable system.”
He added that all outstanding payments are expected to be completed by year-end.
According to the minister, about ₦330 billion has been disbursed into the programme in the last nine months.
He stressed that Nigeria now has the foundation for a modern, transparent and long-term social protection system.
“In any modern economy, a social safety net is essential. Nigeria now has the capability to budget annually for direct support to vulnerable groups, ensuring timely intervention as needed. This was the promise of Mr President, and it is now being implemented alongside wider economic reforms,” Edun stated.
Funmilola Olotu, National Coordinator of the National Social Safety Net Coordinating Office, confirmed that millions of households have received their stipends following the integration of NIN into the social register.
She explained that the linkage ensures direct debit transfers to verified accounts, eliminating leakages.
“We have visited about 7.9 million households and recorded 10.2 million NINs, of which 9.6 million have been validated by the National Identity Management Commission (NIMC). Payments are made only to validated beneficiaries,” Olotu said.
The government said the strengthened framework is designed to ensure that social protection becomes a permanent feature of Nigeria’s economic management strategy, targeting those most affected by reforms.
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