The Federal Government on Tuesday announced the reinstatement of the suspended social investment programme, aimed at providing direct payments to 75 million Nigerians in 50 million households, focusing on vulnerable groups.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, revealed this during a ministerial briefing marking President Bola Tinubu’s first year in office.
He also assured that the cash transfer programme has been revamped to address and prevent fraud.
In January, President Tinubu suspended all National Social Investment Programme Agency initiatives, including N-Power, the conditional cash transfer scheme, the government enterprise and empowerment programme, and the home-grown school feeding initiative, amid allegations of mismanagement.
He also suspended the Supervising Minister, Betta Edu.
Following a request from the House of Representatives in March to resume these initiatives, President Tinubu established a Special Presidential Panel led by Edun to review and audit the programmes.
“The social investment program has been restarted to support poor Nigerians,” Edun stated. “The government is also enhancing access to credit, allocating N1bn to consumer credit, and providing grants of 50,000 Naira to 1 million nano industries.”
