PRESIDENT Bola Tinubu on Wednesday, October 1, announced that his administration has disbursed N330 billion to eight million Nigerian households under its social investment programme.

The disbursement has raised several unanswered questions from some Nigerians who demanded accountability on such payments amid the rising economic crunch faced by most Nigerians due to the impact of Tinubu’s reforms.

The president, in his national broadcast to mark Nigeria’s 65th Independence anniversary, said the intervention is part of efforts to support vulnerable Nigerians.

“Under the social investment programme to support poor households and vulnerable Nigerians, N330 billion has been disbursed to eight million households, many of whom have received either one or two out of the three tranches of N25,000 each,” the president stated.

While touting other economic milestones, including a 4.23 per cent GDP growth in the second quarter of 2025 and inflation falling to 20.12 per cent—the lowest in three years—the president acknowledged that many Nigerians are still battling the rising cost of living.

He urged citizens to endure what he described as “biting effects of inflation,” adding that “Our macro-economic progress has proven that our sacrifices have not been in vain. Together, we are laying a new foundation cast in concrete, not on quicksand.”

“Credicorp, another initiative of our administration, has granted 153,000 Nigerians N30 billion affordable loans for vehicles, solar energy, home upgrades, digital devices, and more. 

“YouthCred, which I promised last June, is a reality, with tens of thousands of NYSC members now active beneficiaries of consumer credit for resettlement,” the president added.

However, many Nigerians took to social media to dismiss the claim of the N330 billion reportedly disbursed to eight million households, raising questions about the evidence and classifications of those who benefited from the disbursement.

They also noted that they are not aware of anyone who has benefited from the scheme.

While The ICIR cannot independently confirm whether any Nigerian has benefited from the distribution, it should be noted that such initiatives are often described as vague and unverifiable, with little evidence in the public domain to track actual beneficiaries. 

Over the years, successive governments have announced similar cash-transfer programmes, yet many citizens said they have never seen the funds nor know anyone who has. 

On X (formerly Twitter), users questioned the transparency of the programme, with some describing it as “audio money” and others demanding evidence of beneficiaries. 

A social media user @DeeVoidElder wrote, “They say ₦330 billion has been given to 8 million households. But honestly, where did it go? In my own community, no one has seen anything. Sometimes it feels like we are not even part of this country, or maybe these are just figures thrown around for headlines.

“Let’s break it down. ₦330 billion divided among 8 million families is about ₦41,000 each. Tell me, what can ₦41,000 do for a family in Nigeria today? Food alone can finish that in a week. Transport and fuel will consume it in a few days. That is not real support, it’s just crumbs presented as a big achievement.”

Another user with the handle AJDaniel questioned, “If N330 billion truly reached 8 million households, we should be seeing a visible impact in local communities. But with rising poverty, inflation and hunger, many are asking: where exactly did the money go?”

Also, Ali, with a username itsaleeyou, said, “Instead of this meaningless tokenism, that money could have been used to fix our collapsing schools, revive hospitals, create jobs, or even stabilise electricity, things that would actually change lives. Nigerians are hungry and tired, yet you keep serving us fairy-tale statistics. Stop insulting the intelligence of the people you’ve failed.”

Mustapha USMAN

Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M