Politics
Breaking News: World Bank Urges Ensuring Nigeria’s Cash Transfer Program Reaches Every Household
Breaking News: World Bank Urges Ensuring Nigeria’s Cash Transfer Program Reaches Every Household
According to data presented by the World Bank’s Lead Economist for Nigeria, Alex Sienaert, only 0.1% of the targeted poor and vulnerable households in Nigeria have received the recently launched Federal Government’s cash transfer of N25,000 per month. The government plans to make these cash transfers to low-income households for three months, with a goal of reaching five million households by the end of December.
Sienaert revealed that, as of now, only 1.5 million households have received money, indicating that the program has reached a mere 0.1% of the projected 15 million households. This leaves 99.9% of the targeted households without their monthly N25,000 cash transfers, despite the prevailing economic hardships in the country.
The impact of recent policies, such as the elimination of fuel subsidies, has disproportionately affected Nigeria’s poor and vulnerable populations, making the monthly cash transfer system crucial. The funding for this initiative comes from a World Bank loan.
However, challenges, including the low number of poor and vulnerable individuals with National Identity Numbers (NIN), may be hindering the disbursement process. The target percentage of individuals with a valid NIN from the National Identity Management Commission was set at 20% by June 30, 2022. Unfortunately, as of December 31, 2022, only 0.10% of the total poor and vulnerable individuals on the registry possessed NIN.
To address this issue, the World Bank emphasizes the role of NIN in the cash transfer program. The State Social Registers are undergoing a rigorous verification process, led by the Federal Ministry of Humanitarian Affairs and Poverty Alleviation in collaboration with state governments. During this verification process, beneficiaries will be supported in enrolling for NIN to enhance the coverage and utilization of the national identity number in the cash transfer program.
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Source; Bushradiogist
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