25m Nigerians Received ₦25,000 Conditional Cash Transfer

The Finance Minister also explained that five million households have benefited from the direct transfer programme of the Federal Government.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this while briefing State House Correspondents shortly after the National Economic Council meeting chaired by Vice President Kashim Shettima.

He enumerated the steps taken by President Bola Tinubu’s administration to provide relief for Nigerians following the sufferings occasioned by the removal of subsidies and other policy reforms being implemented by the government.

According to him, five million households have benefited from the direct transfer.

He also disclosed that in the last five days,  no fewer than 11,000 beneficiaries have received ₦3.5 billion from the consumer credit scheme.

He further said over ₦90 billion has so far been disbursed to half a million Nigerian students under the student loan scheme, which was issued On Wednesday, 3 April 2024, President Bola Tinubu signed the revised Student Loans Reenactment Bill 2024 into law. The executive bill, titled "A Bill for an Act to repeal the Students Loans (Access to Higher Education) Act 2023 and to enact the Student Loans (Access to Higher Education) Bill 2024," establishes the Nigerian Education Loan Fund.

The previous act faced challenges related to governance, loan purpose, applicant eligibility, application process, repayment terms, and loan recovery.

During the signing ceremony, President Tinubu stressed the importance of education for poverty alleviation. He highlighted that the bill's primary objective is to ensure poor Nigerians have access to quality education and opportunities for skills development.