Cash transfer: FG releases N24bn to 991,261 households

The Federal Government has disbursed N24.78bn under the National Cash Transfer programme to 991,261 poor households as part of efforts to alleviate poverty in Nigeria.

The cash transfer initiative, spearheaded by the National Social Investment Programme Agency, had beneficiaries across all 36 states and the Federal Capital Territory, according to a statement from NSIPA on Thursday.

NSIPA National Coordinator and Chief Executive Officer, Badamasi Lawal, said the disbursement was in line with President Bola Tinubu’s Renewed Hope Agenda, as he explained that the Federal Government had in August 2024 paid N3.83bn to 153,038 households.

Lawal stated that in September 2024, the agency shared N20.96bn among 838,223 households and each beneficiary household received 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 said in addition to reducing poverty, the programme is expected to improve household finances and promote savings.

“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 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 said the meeting was 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 added that the minister advised the National Social Safety-Net Coordinating Office to become a front-end partner with the National Identity Management Company for NIN enrollment to improve its programme outreach.

This directive means the office would have direct access to the database of all Nigerians onboarded on the National Identification Number platform.

The minister also discussed a new communication strategy to improve programme outreach across Nigeria

Reforms to the School Feeding Programme were also explored.

Edun emphasised the critical importance of identifying the most vulnerable individuals and ensuring they receive their benefits promptly and securely using digital means.

He reiterated the President’s commitment to delivering social investment programmes efficiently and transparently.