Wale Edun reveals 4.3million Nigerians Received Direct Cash Transfer Under Tinubu’s Government
This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on Tuesday, saying one million citizens were reached in the last few weeks, while the target is to transfer cash to one million vulnerable Nigerians each month.
inflation comes down, exchange rate will stabilise.
“Interest rates will come down and the economy will have a chance.
“People will have a chance at reasonable rates to invest in various sectors of the economy, increase productivity, grow the economy and create jobs which is the key to reducing poverty,” he elaborated.
On the source of funding for these initiatives, Edun explained: “This particular money, $800 million, is under a World Bank programme.
“But it’s under an International Development Association programme, and that money is for 40 years at one per cent.
“So, if you say it is borrowing, well it is, but it is the softest and the cheapest and the most affordable form you can get. The rest will come from the federal government budget.”
