The Federal Government has allocated N24.78 billion through the National Cash Transfer program to assist 991,261 impoverished households in Nigeria.
This initiative, managed by the National Social Investment Programme Agency, has reached beneficiaries across all 36 states and the Federal Capital Territory, according to the statement on Thursday.
NSIPA National Coordinator and CEO, Badamasi Lawal stated that this disbursement aligns with President Bola Tinubu’s Renewed Hope Agenda, according to The Punch.
He noted that in August 2024, the government had previously distributed N3.83 billion to support 153,038 households, reinforcing its commitment to poverty alleviation.
Lawal revealed that in September 2024, the agency distributed N20.96 billion to 838,223 households, with each beneficiary receiving N25,000 through their designated Financial Service Providers.
“The Renewed Hope Conditional Cash Transfer is aimed to cushion the economic shocks of the beneficiaries who are mostly the poor and vulnerable Nigerian households,” the statement added.
Lawal stated that the program aims not only to reduce poverty but also to enhance household finances and encourage savings among beneficiaries.
“The health benefits provide opportunities for the beneficiaries to improve their health and nutritional services. The emotional and social benefits include livelihood, interpersonal relationship and family happiness,” the statement read.
Lawal reaffirmed the agency’s commitment to supporting the most vulnerable in society through social interventions.
In a related development, the government said it disbursed the second tranche of payments to approximately one million beneficiaries of its cash-based Social Investment Programme.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun disclosed this information during a meeting with the Presidential Panel on the Social Investment Programme.
A statement posted on the official X handle of the Finance Ministry on Thursday indicated that the meeting aimed to review the progress of policies supporting President Bola Tinubu’s Renewed Hope Agenda.
The ministry, however, did not provide details of the actual beneficiaries, spread, and the amount involved.
“Key updates included the second payments to about a million verified recipients under the Direct Benefit Transfer programme,” the statement read in part.
The statement further noted that the minister advised the National Social Safety-Net Coordinating Office to collaborate closely with the National Identity Management Company for National Identification Number (NIN) enrollment, aiming to enhance the program’s outreach.
This directive allows the office direct access to the database of all Nigerians registered on the National Identification Number platform.
The minister also addressed a new communication strategy aimed at enhancing program outreach throughout Nigeria, while reforms to the School Feeding Programme were discussed as well.
