The Tinubu Media Volunteers (TMV) has applauded the federal government for disbursing N330 billion as direct cash transfers to the poor and vulnerable households across the country.

In a statement signed by its chairman, Chukwudi Enekwechi and secretary, Segun Ogedengbe, on Thursday in Abuja, TMV said that the payment was part of the National Social Investment Programme.

It said that the initiative was designed to cushion the impact of the cost-of-living crisis brought about by the removal of fuel subsidy and recent currency reforms.

According to the group, out of a target of 15 million households, 8.5 million households have already received at least one tranche of N25,000 monthly payment, while some have received up to three tranches.

The statement recalled that the programme was initially designed to pay N5,000 monthly stipend, but was raised to N25,000 by the Tinubu’s administration to further address the needs of the poor.

“We are convinced that the payment of N330 billion as direct cash transfers to the poorest and vulnerable in the country is the right step in the right direction,” it said.

The group added that the programme reflected Mr Tinubu’s compassion for the poor, especially as almost 75 per cent of the beneficiaries were from the northern part of the country.

It, however, called for acceleration of agricultural programmes to boost food availability and improve living standards nationwide.

The group then urged beneficiaries of the cash transfers to put the funds to meaningful use that would enhance their welfare and livelihoods.

(NAN)