In a significant move to bolster poverty alleviation efforts, the Federal Government of Nigeria has disbursed N493 billion to approximately 5 million households nationwide, following President Bola Ahmed Tinubu’s directive to unfreeze the accounts of the National Social Investment Programme Agency (NSIPA).
The announcement, made by the Minister of State for Humanitarian Affairs and Poverty Reduction, Hon. Yusuf Tanko Sununu, marks a pivotal step in resuming critical social welfare programs aimed at cushioning the effects of economic hardships on vulnerable Nigerians.
The unfreezing of NSIPA’s accounts comes after a year-long suspension initiated in January 2024, when President Tinubu suspended the agency’s operations and the then-Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, amid allegations of financial mismanagement.
The suspension had stalled key programs, including the N-Power initiative, Conditional Cash Transfer (CCT), Government Enterprise and Empowerment Programme (GEEP), and the National Home-Grown School Feeding Programme (NHGSFP), leaving millions of beneficiaries without support.
The President also directed the Economic and Financial Crimes Commission (EFCC) to investigate financial transactions within the Ministry and its agencies, a process that has now paved the way for the restoration of NSIPA’s operational capacity.
Speaking at a press briefing in Abuja on the impact of foreign aid cuts on Nigeria’s humanitarian sector, Minister Sununu expressed optimism about the revitalized programs.
“When we came, we met the accounts on suspension, and the funds were retrieved. The President has now directed that the accounts be reopened, and the funds returned to NSIPA. With the release expected for 2025, we are good to go,” Sununu stated.
He highlighted that the disbursed N493 billion would support initiatives such as the GEEP, which will provide interest-free, non-collateral loans of at least N300,000 to 21,000 farmers to boost dry-season farming and mitigate losses from flooding and other challenges.
The minister also unveiled plans to roll out the Grant for Vulnerable Groups (GVG), targeting the most vulnerable populations.
To enhance the efficiency of these programs, the Ministry has engaged 53 companies to update the National Identification Number (NIN) registration for beneficiaries, ensuring that those in the National Social Register without NIN or Bank Verification Number (BVN) are promptly enrolled.
The decision to unfreeze NSIPA’s accounts follows a resolution by the House of Representatives on December 3, 2024, urging President Tinubu to mandate the Minister of Finance, Wale Edun, to lift the freeze within 72 hours.
The lawmakers emphasized that the suspension had hindered poverty alleviation efforts, delayed payments to 395,731 N-Power beneficiaries owed N81.3 billion, and undermined Nigeria’s progress toward achieving Sustainable Development Goals (SDGs).
The resolution also called for the removal of administrative bottlenecks to ensure the smooth operation of NSIPA’s programs.
This latest disbursement builds on previous efforts under the Renewed Hope Agenda, which has seen over N10 billion disbursed to 411,292 households in October 2024 and N24.78 billion to 991,261 households in September 2024 through the Renewed Hope Conditional Cash Transfer (RH-CCT) program.
According to NSIPA’s National Coordinator, Associate Professor Badamasi Lawal, these initiatives are designed to improve household finances, promote savings, and enhance access to health and nutritional services for Nigeria’s most vulnerable populations.
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