Breaking News: Over 99.9% Of Households Await Federal Government Cash Transfers, Reports World Bank

Breaking News: Over 99.9% Of Households Await Federal Government Cash Transfers, Reports World Bank....KINDLY READ THE FULL STORY HERE▶

The World Bank’s recent findings reveal that an overwhelming 99.9% of targeted impoverished and at-risk households have yet to benefit from the Federal Government’s newly introduced monthly cash stipend of N25,000.

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The Nigeria Development Update for December 2023, held in Abuja last week, featured data presented by Alex Sienaert, the World Bank’s Lead Economist for Nigeria, as reported by The Times. According to Sienaert’s presentation, the Federal Government’s initiative aims to extend financial support to low-income households, providing a monthly stipend of N25,000 for a three-month period.

Introduced by President Bola Tinubu on October 17, 2023, the Conditional Cash Transfer Program is designed to reach 15 million Nigerian households with a monthly income below N75,000, categorizing them as either poor, near-poor, or vulnerable. The initiative, supported by $800 million in funding from the World Bank, is intended to alleviate financial strain and enhance the economic well-being of these households.

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Source; Bushradiogist

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