President Bola Tinubu on Tuesday launched the Renewed Hope Conditional Cash Transfer for 15 million households, representing 62 million Nigerians.
The initiative, which was held at the Press Gallery of the State House in Abuja, commemorated the World Poverty Eradication Day.
The Secretary to the Government of the Federation, George Akume, who represented Tinubu at the event, was joined by other top government functionaries, including the Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu.
In her remarks, Edu said that the beneficiaries would receive N25,000 on a monthly basis for three months, amounting to N75,000 for each beneficiary. She also disclosed that another scheme, code-named ‘Iya Loja Funds’, would be launched in the near future to provide soft loans of N50,000 to support petty traders.
In addition, Edu said that farmers would be provided with incentives at the beginning of the next farming season to boost their farm yields.
The programme is designed to provide social safety nets to the poorest and most vulnerable Nigerians.
Peoplesmind