FG Rolls Out N50,000 Cash Relief Payments For Vulnerable Nigerians: Details Here

The money is to cushion the impact of rising living costs, the Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro has said.

The Minister supplied details of the monthly cash relief payment, in a statement issued on Friday in Abuja.

The succour which comes through the National Emergency Relief and Stabilisation Intervention (NERSI) is a presidential initiative designed to provide immediate financial assistance to millions of vulnerable Nigerians.

He stated that the intervention was introduced in response to global food inflation and rising cost of essential goods, which continue to place pressure on households.

“Under this intervention, eligible beneficiaries will receive N50,000 monthly, providing direct assistance to help meet essential needs and ease the burden of living costs,” he said.

The minister explained that the programme would be reviewed regularly in response to changes in the cost of living, with beneficiaries notified directly before any adjustment.

He said the ministry was working with licensed digital financial service providers to ensure secure, prompt and transparent delivery of the funds.

According to him, beneficiaries will receive text messages from the providers requesting their consent before payments are made directly into their bank accounts or mobile wallets.

Doro stressed that beneficiaries would not need to apply, pay any fee or register through agents to access the intervention. He warned Nigerians against fraudsters, advising beneficiaries not to disclose their personal identification numbers (PINs) or Bank Verification Numbers (BVNs) to anyone.

The Eagle Newsmedia reports an increase in the cost of living in Nigeria in the recent.

Current Market Prices & Household Costs.

The high cost of living is coming on the back of major economic reforms implemented by the President Bola Ahmed Tinubu administration, especially the removal of subsidy on petrol and the floating of the national currency, the Naira.

Nigeria is an oil-dependent economy and a marginal increase in the price of oil leaves far-reaching consequences on prices of other items and services.

• Fuel & Energy: ₦1,270 to over ₦1,500 per liter.

• Kitchen & Food Staples: A crate of eggs ₦7,500

• Loaf of bread: Btw N1, 500 & ₦2,000

• Basket of household groceries: ₦147,050.

• 1-Bedroom: ₦2,000,000 – ₦7,500,000+ per year

• Larger/Luxury Apartments & Duplexes: ₦8,000,000 – ₦20,000,000+ per year

• Central Mainland & Suburbs (Ikeja, Yaba, Gbagada, Surulere):

• 1-Bedroom: ₦1,000,000 – ₦3,500,000 per year

• Outer Mainland / Developing Areas (Alimosho, Badagry, Agege, Ikorodu):

• 1-Bedroom / Self-Contain / Mini-Flats: ₦350,000 – ₦900,000 per year

Cami Ezenwa is a Writer, Editor, Publicist, Biographer and Journalism Trainer He has worked with the Daily Times, Daily Independent, Financial Standard and Business Television to mention some. His ongoing Corporate Communications Master Class training series equips learners with credible hands-on skills for effective Media Relations, Public Communications & Corporate Affairs amongst others. He can be contacted via 09165809519 or 08180335778.

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