The Minister of Humanitarian Affairs, Disaster Management, and Social Development, Nentawe Yilwatda, has announced the Federal Government’s plan to reach 15 million households, representing 75 million people, through its conditional cash transfer scheme.

Speaking on Monday during an interview on Channels Television’s The Morning Brief, Yilwatda explained that the initiative is part of President Bola Tinubu’s commitment to mitigating the economic hardships faced by vulnerable Nigerians.

“The president was so specific,” Yilwatda noted.

“There are policies that he brought in to see if that can ease those challenges for people at the lower end of the pyramid. One of those policies is to reach out to 15 million beneficiaries under the conditional cash transfer, targeting households rather than individuals. Each household will receive ₦25,000 monthly, paid three times a year.”

Yilwatda further clarified that the 15 million households being targeted translate to 75 million Nigerians, assuming an average of five persons per household.

So far, the Federal Government has reached five million individuals but is facing challenges in fully sanitizing the social register, particularly with the implementation of the Central Bank of Nigeria’s (CBN) policy mandating digital identities for transparency and traceability of payments.

“Currently, only 1.4 million people on the social register have digital identities. Many of those we are targeting are outside the formal banking system,” the minister disclosed.

Yilwatda emphasized that women are specifically targeted as household leaders under the program to ensure the funds are used effectively for the benefit of children and other vulnerable members of society.

The conditional cash transfer programme, which is administered under the National Social Investment Programme, had earlier been suspended by President Tinubu in January due to allegations of corruption. However, the scheme was reinstated in February, with plans to extend the initiative to an additional 12 million households.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has assured Nigerians of a reduction in the pump price of petrol within the week, following adjustments to the ex-depot price by key players in the industry.

Last week, the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery announced a reduction in the ex-depot price of petrol to ₦899 per litre in Lagos. Despite this, the pump price at many filling stations across the country has remained unchanged.

However, PETROAN President, Billy Gilly-Harry, during a Monday appearance on Channels Television’s Sunrise Daily, expressed optimism that the price change would soon reflect in retail outlets.

“But I believe from today when members start loading from both NNPC and Dangote at this new price reduction, it will reflect in the market,” he said.

Gilly-Harry lauded some members of PETROAN, particularly in Abuja, for proactively reducing their pump prices to below ₦1,000 even before the official announcement. He emphasized that while members strive to serve Nigerians by providing affordable fuel, they must maintain marginal profitability to sustain operations.

“We don’t encourage our members to try to sell products at a loss because our focus is to serve Nigerians. And the only way we can serve Nigerians is when we have the resources to do so. The resources can only be there if we’re making marginal profit enough to pay for the cost of money and ensure continuity in business,” he noted.

Addressing concerns over the delay in implementing the price reduction, Gilly-Harry explained that some retailers are still selling old stock purchased at higher prices.

“This reduction, if you apply it immediately, don’t forget that some of them bought at ₦970, paid transportation costs and logistics that have taken it quite high,” he said. “By the time it gets to their retail outlets, it’s quite much more than that. And so they must also sell at a profit – minimal marginal profit as provisioned by the PIA. So, that’s the reason.”

The PETROAN boss commended both the NNPCL and Dangote Refinery for their efforts in reducing the ex-depot price, which he described as a significant step toward easing the burden on Nigerians.

Nigerians are now hopeful that the price adjustment will translate into tangible relief at filling stations in the coming days.

The Federal Government has declared Wednesday, December 25, and Thursday, December 26, 2024, as public holidays to mark Christmas and Boxing Day, respectively. Additionally, Wednesday, January 1, 2025, has been declared a public holiday to celebrate the New Year.

This announcement was made by the Minister of Interior, Dr. Olubunmi Tunji-Ojo, in a statement signed by the Permanent Secretary, Dr. Magdalene Ajani. The minister extended warm greetings to all Nigerians, urging them to embrace the festive period as an opportunity to reflect on the values of love, peace, and unity that the season represents.

Tunji-Ojo emphasized the significance of the season in fostering harmony and strengthening family and community bonds.

“The Christmas season is a good moment for both spiritual reflection and national renewal. As we celebrate the birth of Jesus, the Prince of Peace, let us demonstrate kindness and extend goodwill to one another, irrespective of our differences,” he stated.

He further encouraged citizens to remain committed to peace, unity, and progress for the development of the nation, stressing the Federal Government’s dedication to ensuring security and prosperity across the country.

While wishing Nigerians a Merry Christmas and a prosperous New Year, the minister expressed confidence in the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration.

He assured citizens that the coming year would usher in a stronger and more prosperous economy that would set Nigeria on a global pedestal.

The minister concluded by calling on Nigerians to celebrate responsibly, maintaining peace and unity throughout the festive season.