The Federal Government has announced that over 25 million Nigerians have so far benefited from its ₦25,000 conditional cash transfer, providing essential support as economic reforms take hold.
The disclosure was made by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, during a briefing to State House correspondents on Thursday.
The briefing followed the National Economic Council (NEC) meeting, chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja.
Detailing the government’s measures to ease economic strain in the wake of subsidy removal and other fiscal reforms, Mr Edun highlighted the relief efforts led by President Bola Tinubu’s administration.
“Five million households have benefited from the direct transfer,” he reported, underscoring the programme’s reach.
In addition, Mr Edun disclosed that approximately 11,000 beneficiaries have received ₦3.5 billion under a consumer credit scheme over the past five days.
Furthermore, he stated that more than ₦90 billion has been disbursed through the student loan scheme, supporting half a million Nigerian students in their education goals.
Flood Crisis And Fatalities
The NEC meeting also addressed the escalating flood crisis that has devastated communities across Nigeria.
Vice President Shettima, alongside the Council, expressed deep concern over the loss of life and extensive property damage.
The devastating floods have claimed the lives of at least 321 Nigerians across 34 states, with more than 1.2 million people displaced and over one million homes damaged.
Following the meeting, Anambra State Governor, Professor Charles Soludo, briefed correspondents, describing the toll on livelihoods and agriculture as severe.
“Farmlands have been washed away, leaving thousands of Nigerians without homes or sources of income,” he said.
The NEC called for immediate action to mitigate the hardships faced by flood victims and urged government agencies to bolster efforts to provide humanitarian assistance to affected regions.
The latest measures underline the government’s commitment to supporting Nigerian households during challenging times, whether through financial relief or disaster response, in the wake of mounting economic and environmental pressures.
