BREAKING: Jubilation as Tinubu Launches Conditional Cash Transfer For 15 Million Households
- President Bola Tinubu-led government has launched a conditional cash transfer scheme for vulnerable Nigerians
- The Renewed Hope Conditional Cash Transfer is in fulfilment of Tinubu's promise during his Independence Day broadcast
- The Secretary to the Government of the Federation, George Akume, represented Tinubu at the State House in Abuja, on Tuesday, October 17
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FCT, Abuja - President Bola Tinubu has launched the Renewed Hope Conditional Cash Transfer for 15 million households.
The event occurred at the Press Gallery of the State House in Abuja, on Tuesday, October 17, Channels TV reported.
Source: Twitter
The Secretary to the Government of the Federation, George Akume represented the President at the event, which coincided with World Poverty Eradication Day.
Tinubu announced the cash transfer programme during his maiden Independence Day broadcast to Nigerians on October 1, 2023.
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Speaking at the event, the Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu, said the 15 million households represent 62 million Nigerians, Vanguard reported.
According to Edu, N25,000 would be transferred to the beneficiaries every month for three months.
The minister added that another scheme code-named ‘Iya Loja Funds’ would be launched to provide soft loans of N50,000 to support petty traders.
In disbursing the funds to beneficiaries, Minister Of Finance, Wale Edun, said a biometric auditing system would be put in place to ensure efficiency and accountability.
The World Bank Country Director, Shubham Chaudhuri, who was present at the launch, pledged the international financial institution’s support to the scheme.
FG to Empower 15 Million Families With N75,000 Cash Transfers
In an earlier report by Legit.ng, Edu spoke on the Nigerian government's plan to empower 15 million families under the Conditional Cash Transfer Programme.
The minister disclosed this on Tuesday, October 3, 2023, during her visit to the Minister of Information and National Orientation, Mohammed Idris.
The information ministry’s spokesman, Rhoda Ishaku Iliya, said on Wednesday, October 4, 2023, that the ministry had put different programmes in place to ease suffering among Nigerians.
World Bank says FG’s palliative will increase household earnings by 10 per cent
Earlier, the World Bank reacted to the Federal Government's intention to give out N8,000 as temporary relief after eliminating the fuel subsidy.
The global bank claimed the action would result in a 10% increase in income and accessible earnings for nearly 50% of Nigerians.
Source: Legit.ng
