Following the launch of the 25,000 Cash transfer for poor Nigerians by the Hon Minister for Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, below is all you need to know about the program.
The CCT programme was announced by Mr Tinubu during the Independence Day speech, where he said that 15 million households would each be given N25,000 for three consecutive months to alleviate the poverty level.
The Conditional Cash Transfer (CCT) is one of the key instruments for fighting poverty globally
The CCT was part of efforts by the President Bola Tinubu-led administration to alleviate the immediate effect of the removal of subsidy on Premium Motor Spirit (PMS), known as petrol.
the new initiative would empower the poorest and most vulnerable members of society…… Read more
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.
