Tinubu Launches Cash Transfer To 15M Households Of Vulnerable Nigerians

President Bola Ahmed Tinubu has launched the renewed hope conditional cash transfer for 15 million Nigerian households.

The event coincides with the world poverty eradication day holding at the state house press gallery in Abuja on Tuesday.

The president had in his independence day broadcast on October 1 announced the cash transfer program, which he said is targeted at vulnerable citizens.

The Secretary to the Government of the Federation, George Akume represented the President at the event.

In attendance are the Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu; Minister Of Finance, Wale Edun; World Bank Country Director, Shubham Chaudhuri; and the United Nations Resident and Humanitarian Coordinator For Nigeria, Matthias Schmale; among other dignitaries.

The 15 million households, according to the humanitarian affairs minister, represents 62 million Nigerians.

She said that the sum of N25,000 would be transferred to the beneficiaries on a monthly basis for three months, which amounts to N75,000 for each of the beneficiaries.

The minister also disclosed that in no distant time, another scheme would be launched, code-named ‘Iya Loja Funds’ which would provide soft loans of N50,000 to support petty traders.

In addition, at the beginning of the next farming season, she said that farmers would be provided with incentives to boost their farm yields.