Tinubu launches conditional cash transfer for 15m vulnerable households

President Bola Tinubu has launched the “Renewed Hope Conditional Cash Transfer” for 15 million vulnerable Nigerian households.

While launching the cash transfer scheme on Tuesday at an event which coincided with the World Poverty Eradication Day, at the Press Gallery of the State House in Abuja, Tinubu who was represented by the Secretary to the Government of the Federation (SGF), George Akume, said it was in fulfilment of the President’s Independence Day broadcast to Nigerians on October 1, where he announced the cash transfer programme which would target vulnerable citizens.

Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu, was also at the event, said the 15 million households represents 62 million Nigerians.

READ ALSO:Tinubu swears in three additional ministers, presides over FEC meeting

She said the plan was to transfer the sum of N25,000 to the beneficiaries on a monthly basis for three months, amounting to N75,000 for each of the beneficiaries.

Edu also disclosed that another scheme would soon be launched code-named “Iya Loja Funds” which would provide soft loans of N50,000 to support petty traders.

She added that at the beginning of the next farming season, farmers would be provided with incentives to boost their farm yields.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now