President Tinubu Launches Conditional Cash Transfer Programme for 15 Million Households

President Tinubu’s Initiative

On Tuesday, President Bola Tinubu launched the Conditional Cash Transfer Programme targeting 15 million households in Nigeria.

The President, represented by the Secretary to the Government of the Federation, George Akume, introduced the program during an event at the State House in Abuja.

This program had been previously announced by the President during his Independence Day broadcast on October 1, 2023, with a focus on assisting vulnerable citizens.

Distinguished Attendees

The launch event was attended by key figures, including Betta Edu, the Minister of Humanitarian Affairs and Poverty Eradication; Wale Edun, the Minister of Finance;

Shubham Chaudhuri, the World Bank Country Director; and Matthias Schmale, the United Nations Resident and Humanitarian Coordinator for Nigeria, along with other dignitaries.

Program Details

During the event, the Minister of Humanitarian Affairs disclosed that the 15 million households benefiting from this initiative collectively represent 62 million Nigerians.

The program will involve monthly cash transfers of N25,000 to each beneficiary for a duration of three months, totaling N75,000 for each recipient.

Upcoming Schemes

The minister also revealed plans for another scheme called ‘Iya Loja Funds,’ set to provide soft loans of N50,000 to support petty traders.

Additionally, as the next farming season approaches, farmers will receive incentives to enhance their crop yields.

Support from the World Bank

The Country Director of the World Bank pledged their organization’s support for this program, emphasizing their commitment to its success.

Ensuring Efficiency and Accountability

The finance minister highlighted the implementation of a biometric auditing system to ensure the efficient and accountable distribution of funds to the beneficiaries.

This system is intended to guarantee transparency in the disbursement of funds and prevent misuse.

This program’s launch signifies a significant step in President Tinubu’s efforts to provide financial support to vulnerable households and tackle poverty in Nigeria.