FG Disburses Over N600 Billion to 10 Million Households

The Federal Government of Nigeria has disbursed over N600 billion in cash transfers to vulnerable Nigerians over the past three years, benefiting slightly more than 10 million households. This information was disclosed by Bernard Doro, the Minister of Humanitarian Affairs and Poverty Reduction, during an interview on Channels Television’s Politics Today.

The announcement coincides with the launch of a new $1 billion social protection initiative called the Household Prosperity and Empowerment Social Protection Project (HOPE-SP), which was unveiled by First Lady Oluremi Tinubu. The HOPE-SP program targets approximately 7.6 million vulnerable households, with each eligible household set to receive a one-off digital shock-response transfer of N40,000.

Doro emphasized that the new program represents a shift in the government's approach to poverty reduction, focusing on tracking household progress towards economic self-reliance. He defended the government's economic reforms, including the removal of the petrol subsidy, and stated that the government is working to reduce inflation and rebuild the economy.