Massive Disparity in Cash Transfer Distribution as 99.9% of Households Yet to Benefit.
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout.
According to The Times, data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented last week in Abuja during the Nigeria Development Update, December 2023 edition.
The Federal Government intends to provide cash transfers to low-income households, paying N25,000 per month for three months, according to his presentation material.
President Bola Tinubu introduced the Conditional Cash Transfer Program on October 17, 2023, with funding support of $800 million from the World Bank.
This program intends to assist 15 million Nigerian households that make less than N75,000 per month and are considered poor, near-poor, or vulnerable.
