President Tinubu has disclosed that his government has given N330 billion($222.90 million) to eight million households as part of the social investment program to assist vulnerable Nigerians and low-income households.
This was revealed by Tinubu during his 65th Independence Anniversary national broadcast on Wednesday.
According to the President, the nation’s economy has grown significantly throughout its 65 years of freedom.
He pointed out that the nation has persevered through all of the difficulties it has encountered in its 65 years of independence.
Critics however have questioned the fund transfer scheme’s transparency.
The distribution was disclosed by the finance minister two weeks ago, which sparked demands for a public beneficiary record. The IMF’s most recent Article IV report warned of continuously rising inflation and growing poverty, notwithstanding Tinubu’s optimistic tone.
Meanwhile, more than half of Nigeria’s population, or over 129 million people, live in poverty, and the World Food Programme was forced to close 150 nutrition clinics in the northeast due to financial cuts from foreign donors.
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