Abuja, Nigeria: A civil society coalition has commended the Federal Government for releasing ₦330 billion under its National Social Investment Programme (NSIP), describing it as a bold step toward poverty reduction and inclusive growth.
In a statement signed by its Chairman, Mr Chukwudi Enekwechi and Secretary, Mr Segun Ogedengbe, on Thursday in Abuja, TMV said that the payment was part of the National Social Investment Programme.
It stated that the initiative was designed to mitigate the impact of the cost-of-living crisis resulting from the removal of fuel subsidies and recent currency reforms.
According to the group, out of a target of 15 million households, 8.5 million households have already received at least one tranche of N25,000 monthly payment. In contrast, some have received up to three tranches.
The statement recalled that the programme was initially designed to pay a N5,000 monthly stipend. Still, it was subsequently raised to N25,000 by Tinubu’s administration to further address the needs of people experiencing poverty.
“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,” it said.
The group added that the programme reflected President Tinubu’s compassion for people experiencing poverty, especially as almost 75 per cent of the beneficiaries were from the northern part of the country.
It, however, called for acceleration of agricultural programmes to boost food availability and improve living standards nationwide.
The group then urged beneficiaries of the cash transfers to put the funds to meaningful use that would enhance their welfare and livelihoods.
