By Olawale Lamina
The Tinubu Media Volunteers, TMV, has applauded the payment of N330 billion to the poor and vulnerable by the federal government.
In a statement signed by its Chairman, Chukwudi Enekwechi, and the Secretary, Segun Ogedengbe, the cash transfer is an aspect of the National Social Investment Programme designed to ease the impact of the cost-of-living crisis on vulnerable Nigerians.
It said: “We note that as part of the Tinubu administration’s economic response to the subsidy removal and currency reforms, the government decided to strengthen the National Social Investment Programme which was introduced by the preceding administration as a social safety net for the poorest and vulnerable people in the country.
”It is also acknowledged that out of a target of 15 million households, 8.5 million households have so far received one tranche of N25,000 monthly payment, while some have received up to three tranches.
”The programme, which was initially meant to provide N5000 as a monthly stipend to the beneficiaries, was later increased to N25000 by the Tinubu administration.
”We are convinced that the payment of N330 billion as direct cash transfers to the poorest and vulnerable in the country is the right step in the right direction.
”Without mincing words the cash transfers can go a long way towards ameliorating the plight of the ordinary Nigerians.
”We believe that with the programme President Tinubu has shown compassion for the economic woes afflicting the poorest of the poor in the country, especially as almost 75% of the beneficiaries are from the northern part of the country.
”We, however, advocate for the acceleration and improvement in the agricultural programme of the federal government to make food available across the country.
”This approach will no doubt improve the living standards of the generality of the people.”
The group also called on the beneficiaries to make good use of the money by engaging in meaningful activities.
Recall that days ago, the federal government paid poor Nigerians the sum of N330 billion in cash transfers through the National Social Safety-net Coordinating Office. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this while briefing the press, in Abuja, yesterday.
About seven million families had received the disbursema.ent of N330 billion federal government powered cash transfer.
The cash transfers are being done from an $800 million facility of the World Bank.
According to the Finance Minister, the cash transfers are part of President Bola Tinubu’s strategies to help poor Nigerians cope with rising prices brought about by the fuel subsidy removal and the floating of the Nigeria.
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