Finance and Economy Minister Wale Edun said the Federal Government had shared N330 billion with poor and vulnerable Nigerians through the National Social Safety-Net Coordinating Office (NASSCO).
He explained that the intervention sought to ease the hardship created by rising prices from recent economic reforms while laying the foundation for a sustainable social protection system.
Edun disclosed on Wednesday in Abuja during a meeting of the Special Presidential Panel on Social Investment Programme.
He noted that the scheme drew from an $800 million World Bank facility and provided N25,000 monthly for three months to households verified with their National Identity Numbers.
According to him, 8.5 million households had already received one or more tranches, while the remaining families would be paid before the year ends.
NASSCO National Coordinator Funmi Olotu added that linking transfers to NIN guaranteed accountability and ended the practice of cash handouts.