By Anifowoshe Oladipupo
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the Federal Government is reaching out to Nigeria’s poorest and most vulnerable citizens with direct payments to cushion the impact of the high cost of living.
Speaking during an interview on AriseTV’s breakfast show, Edun said the initiative is one of several safety nets put in place by the Tinubu-led administration to lift more Nigerians out of poverty.
“The economy is growing at a faster rate than population growth. More importantly, there is now a robust safety net.
We have a gold-standard mechanism for reaching the poorest and most vulnerable individuals with payments to help them manage the rising cost of living,” the minister said.
He explained that each beneficiary is uniquely and biometrically identified using their National Identification Number (NIN), with funds disbursed through bank accounts or mobile wallets.
“Each payee is biometrically verified and receives payment digitally-either into a bank account or mobile wallet.
“With a robust and reliable social register, the government can track who has been paid, when, and how much. This ensures transparency and accountability,” Edun noted.
He further emphasized the administration’s commitment to creating an enabling environment that attracts investment, increases productivity, stimulates economic growth, and generates employment.
