President Bola Ahmed Tinubu has revealed that the federal government has disbursed ₦330 billion to more than eight million Nigerian households under its social investment programme.
Tinubu made the announcement during a national broadcast on Wednesday to mark Nigeria’s 65th Independence anniversary.
He said his administration remains determined to protect the country’s poorest citizens from the harsh effects of economic reforms.
“Under the social investment programme to support poor households and vulnerable Nigerians, ₦330 billion has been disbursed to eight million households.
Many of them have received one or two out of the three tranches of ₦25,000 each,” Tinubu stated.
The president has faced heavy criticism since his 2023 decision to scrap fuel subsidies and unify the foreign exchange market.
He defended the reforms, stressing that they were painful but necessary steps to rescue Africa’s largest economy from collapse.
Tinubu admitted that the policies initially caused inflation and strained family budgets.
However, he said the country is now beginning to see results. “Yesterday’s pains are giving way to relief,” he noted, adding that fiscal and monetary measures are stabilising the economy.
Official data supports his claim. Nigeria’s inflation rate slowed to 20.12 percent in August 2025, the lowest in three years. GDP growth also hit 4.23 percent in Q2 2025, the fastest pace in four years.
The president explained that subsidy removal freed up trillions of naira for investment in education, healthcare, security, agriculture, and infrastructure.
He added that targeted social programmes like the ₦25,000 cash transfers were cushioning the impact on low-income families.
Beyond cash support, Tinubu highlighted youth-focused initiatives such as student loans under NELFUND, credit facilities for NYSC members, and the Investment in Digital and Creative Enterprises (iDICE) programme.
He described Nigeria’s young population as the country’s “greatest asset.”
He urged citizens to embrace productivity and innovation while assuring them that the government would channel saved resources into critical sectors such as food security, electricity, education, and healthcare.
“On this anniversary, my message is hope and a call to action. We must be a nation of producers, not just consumers.
Let us believe once more in the boundless potential of our great nation,” Tinubu concluded.