On Thursday, Associate Professor Badamasi Lawal, the National Coordinator of the National Social Investment Programme Agency (NSIPA), announced the release of N24.782 billion in conditional cash transfers (CCT) to 991,261 households across all 36 states and the Federal Capital Territory (FCT).
In a statement issued to Humanitarian Correspondents in Abuja, Lawal detailed that each beneficiary would receive N25,000 through their respective Financial Service Providers (FSPs).
This initiative is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at alleviating poverty and improving the livelihoods of vulnerable Nigerians.
“The National Cash Transfer Office under NSIPA has disbursed N24,781,525,000 for the payment to beneficiaries across the nation,” Lawal stated.
He noted that in August 2024, a total of 153,038 household beneficiaries received N3,825,950,000. In September 2024, an additional N20,955,575,000 was allocated to 838,223 households across the country.
Lawal emphasized that the Renewed Hope Conditional Cash Transfer (RH-CCT) program aims to cushion the economic shocks faced by primarily poor and vulnerable households. The program is expected to yield several benefits, including:
- Economic Benefits: Immediate poverty reduction, improved household finances, and enhanced savings capabilities for beneficiaries.
- Health Benefits: Opportunities for better health and nutritional services.
- Emotional and Social Benefits: Enhanced livelihoods, improved interpersonal relationships, and increased family happiness.
This cash transfer initiative is a crucial component of the government’s efforts to support vulnerable populations in Nigeria and drive meaningful change in their lives.
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