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Independent AfricaNigeria: Govt launches $1.5b cash distribution to alleviate economic strain for vulnerable...

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Nigeria: Govt launches $1.5b cash distribution to alleviate economic strain for vulnerable households

The Nigerian government has unveiled a plan to distribute $1.5 billion (£1.2 billion) in cash to support 15 million vulnerable households.

This initiative aims to ease the impact of soaring prices for essential items such as food, fuel, and commodities.

Under this program, each eligible household will receive $32 in cash over a three-month period starting this month, as stated by the Finance Minister. The specific commencement date, however, was not provided during the press conference held in the capital, Abuja, on Tuesday.

The government estimates that these vulnerable households encompass approximately 62 million Nigerians, out of a total population exceeding 200 million.

Initially, the scheme was announced in July with the intention to provide $10 to each of the 12 million households. However, this drew public criticism, with many expressing concerns that the amount was insufficient.

In response to these concerns, President Bola Tinubu introduced a revised plan during the Independence Day celebrations earlier this month.

Nonetheless, questions persist regarding the criteria for eligibility and the selection process for households.

The economic challenges faced by many Nigerians stem from the removal of fuel subsidies by the government in May, coinciding with Mr. Tinubu’s assumption of office.

According to Nigeria’s National Bureau of Statistics, approximately 63% of Nigerians are classified as “multidimensionally poor,” experiencing various forms of deprivation.

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