The National Economic Council (NEC) has decided not to use the social register from the previous administration, led by Muhammadu Buhari, for the implementation of its conditional cash transfer program due to credibility issues.
Instead, the council suggested a cash transfer program for states using their social registers and a six-month cash reward system for public servants.
This resolution emerged from a lengthy meeting at the state house on Thursday between the Vice-President, thirty-six state Governors, a representative of the Governor of the Central bank and other co-opted government officials.
Top on the agenda of the council’s meeting today was to fashion out a way to provide palliative for the poor to cushion the effect of the fuel subsidy removal.
The Governor of Anambra State, Prof. Charles Soludo confirmed this to reporters after the meeting.
He said, “We need to face the problem of the fact that we don’t have a credible register,”
Beyond the problem of the social register, the Governor also noted the council’s decision to provide Micro, Small and Medium Enterprises (MSMEs) with single-digit interest loans.
Prof. Soludo also stated the NEC agreed that outstanding payments for public servants and pensioners should be paid to assuage the hardship currently being experienced.
About the National Social Register
The administration of President Buhari through the support of the world bank established the National Social Safety Nets Project (NASSP) in 2016 in fulfilment of his campaign promise of 2015.
The project led to the development of the National Social Register where data from poor and vulnerable households were collated for the purpose of cash transfers.
Since 2016, over 61 million vulnerable persons have been registered and about 15 million poor and vulnerable households registered across the 36 states and FCT.
FG’s effort to provide post-subsidy removal support
The Federal government had earlier secured an $800 million world bank facility as a conditional cash transfer for the most vulnerable households across the country in the wake of the fuel subsidy removal.
President Tinubu had earlier stated the Federal government will be paying N8000 monthly to households to ameliorate the effect of the subsidy removal.
However, earlier this week the President reneged on the plan and promise a review of the policy.