Nigeria Launches N75,000 Cash Transfers for 15 Million Households

In a bid to combat poverty and provide immediate relief to vulnerable households across Nigeria, President Bola Tinubu has officially launched the Conditional Cash Transfer program, set to disburse N75,000 to 15 million households over three months.

The launch took place during a commemoration event marking the International Day for the Eradication of Poverty, where Sen. George Akume, representing the President, emphasized the government’s commitment to tackling poverty through various strategies.

Addressing the theme “Decent Work and Social Protection: Putting Dignity in Practice for All,” Sen. Akume outlined the administration’s initiatives aimed at creating employment opportunities and ensuring social protection for all citizens.

According to Dr. Betta Edu, Minister of Humanitarian Affairs, the disbursement will be conducted with stringent verification processes to ensure the funds reach deserving recipients. Measures such as obtaining Bank Verification Numbers (BVNs), National Identification Numbers (NINs), and verifying addresses will be implemented to safeguard the integrity of the program.

“Our President Bola Ahmed Tinubu has resolved that Nigerians will have both immediate short-term, medium-term, or long-term interventions to cushion not just the effect of force subsidy or any economic shock but to ensure that we can pull Nigerians out of poverty while preventing mitigating against the humanitarian crisis that has led to many Nigerians being displaced or living below the poverty line,” Dr. Edu affirmed.

Highlighting the urgency of addressing poverty, Mr. Wale Edun, Minister of Finance and Economy Coordination, reiterated the President’s commitment to alleviating poverty as a top priority.

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Shubham Chaudhuri, the World Bank Representative in Nigeria, underscored the significance of conditional cash transfers in providing immediate relief to economically disadvantaged individuals, preventing long-term consequences such as food insecurity and withdrawal from education.

“This assistance is essential in assisting them in getting past the initial phase when they might otherwise be forced to make decisions that have long-term repercussions,” Chaudhuri emphasized, highlighting the importance of such programs in mitigating the impact of economic shocks on vulnerable populations.

As the Conditional Cash Transfer program unfolds, it represents a critical step in the government’s efforts to alleviate poverty and promote social protection for millions of households across Nigeria.