The Federal Government has distributed N24.78 billion through the National Cash Transfer program to support 991,261 impoverished households across the 36 states and the Federal Capital Territory (FCT) Abuja, aiming to reduce poverty in Nigeria. The program is aimed at improving household finances and encouraging savings.
The National Coordinator and CEO of the National Cash Transfer Office under the National Social Investment Programme Agency (NSIPA), Badamasi Lawal, stated that the disbursement aligned with President Bola Tinubu’s Renewed Hope Agenda, noting that the Federal Government had distributed N3.83 billion to 153,038 households in August 2024.
Mr Lawal explained that the agency distributed N20.96 billion among 838,223 households and a sum of N25,000 was allocated to each beneficiary household through the assigned Financial Service Providers.
According to Lawal, the Renewed Hope Conditional Cash Transfer (RH-CCT) program is designed to alleviate the economic challenges faced by primarily poor and vulnerable Nigerian households. The initiative offers various economic advantages, such as immediate poverty reduction and enhanced household finances and savings capabilities. Additionally, it provides health benefits by improving access to health and nutritional services. On a social and emotional level, the program fosters better livelihoods, strengthens interpersonal relationships, and contributes to family well-being.
The National Coordinator and CEO reaffirmed the agency’s dedication to assisting the most vulnerable members of society through social intervention programs.
