The Nigerian Government has disbursed N24.78 billion to 991,261 poor households through the National Cash Transfer programme, a key initiative under the National Social Investment Programme Agency (NSIPA) aimed at alleviating poverty.
Beneficiaries across all 36 states and the Federal Capital Territory received payments, according to a statement released by NSIPA.
Badamasi Lawal, NSIPA’s National Coordinator, confirmed that N3.83 billion was paid to 153,038 households in August 2024, and N20.96 billion was distributed to 838,223 households in September 2024, with each household receiving N25,000 through designated financial service providers.
This initiative aligns with President Bola Tinubu’s “Renewed Hope Agenda” to support Nigeria’s most vulnerable.
“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 read.
Lawal explained that the programme aims to not only reduce poverty but also improve household finances, promote savings, and provide health, social, and emotional benefits to poor and vulnerable households.
Additionally, Minister of Finance Wale Edun explained the progress in social investment programmes during a meeting with the Presidential Panel.
He said the second tranche of payments under the Direct Benefit Transfer programme has reached around one million verified recipients.
Edun stressed the importance of ensuring that the most vulnerable receive their benefits securely and efficiently, reflecting President Tinubu’s commitment to transparent social investment.
