Nigeria began distributing about $1.5 billion of cash to 15 million households vulnerable to rising food and fuel prices after inflation accelerated at the fastest pace in 18 years.
Each household will receive 25,000 naira ($32.70) a month over three months starting October, Wale Edun, minister of finance, said at a briefing in Abuja, the nation’s capital, on Tuesday. The cash transfers will cost the government $1.5 billion, according to Bloomberg calculations.