President Bola Tinubu has launched the Renewed Hope Conditional Cash Transfer for 15 million households on World Poverty Eradication Day.
The Secretary to the Government of the Federation, George Akume, represented the President at the event.
Akume disclosed that the program will alleviate poverty by providing a monthly cash transfer of N25,000 to each of the 15 million households for three months, which amounts to N75,000 for each beneficiary.
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 were present at the event.
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Edun said a biometric auditing system would be put in place to ensure efficiency and accountability in the disbursement of the funds to beneficiaries.
Furthermore, another scheme would be launched soon, code-named ‘Iya Loja Funds,’ which would provide soft loans of N50,000 to support petty traders.
Farmers would also be provided with incentives to boost their farm yields at the beginning of the next farming season.
