How FG will disburse Conditional Cash Transfer.
The National Coordinator and Chief Executive Officer of the National Social Investment Programmes Agency (NSIPA), Halima Shehu, has revealed the details of the Conditional Cash Transfer (CCT) program in Nigeria. This initiative, led by the Nigerian government, is aimed at providing support to vulnerable and low-income households across the nation.
Mrs. Shehu outlined the different categories of the CCT program during a Senate hearing. The first category involves beneficiaries receiving ₦5,000 each, as part of the federal government’s efforts to combat poverty.
The second category, termed ‘livelihood,’ entails beneficiaries receiving ₦150,000 each. This significant sum is provided to help individuals start small or medium-scale businesses after they have undergone vocational training.
How FG will disburse Conditional Cash Transfer
Mrs. Shehu emphasized that not all households are eligible for the second category; they must enroll in a core responsibility before accessing this level of assistance. This aspect of the program is designed to uplift households out of poverty.
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She stated, “The next component is the livelihood, still under conditional cash transfer, the livelihood is a one-off grant of ₦150,000, and the household that has engaged in skill acquisition will be periodically assessed for the kind of businesses they have established. Every household is expected to spend three years on the program and exit with the one-off livelihood grant. This indicates that we have completely improved your economic situation.”
In July, the National Assembly granted approval for the federal government to obtain an $800 million loan from the World Bank. This loan was intended to provide relief for the most vulnerable Nigerians, addressing the challenges posed by the removal of petroleum subsidies.
This loan is part of President Bola Tinubu’s commitment to sustaining the conditional cash transfer scheme initiated by his predecessor, Muhammadu Buhari. Under the new administration’s plans, ₦8,000 will be distributed monthly to 12 million poor and low-income households across the country for six months.
Mrs. Shehu ensured that all payments under the CCT program will be made directly from the Central Bank of Nigeria to the beneficiaries’ bank accounts. This direct transfer method minimizes the involvement of agency officials in handling the funds.
Furthermore, she assured that the disbursement of the conditional cash transfer to beneficiaries will be closely supervised by development partners and the World Bank to ensure transparency and accountability.
Mrs. Shehu also highlighted other government initiatives, including the N-Power program, which aims to benefit graduates and non-graduates. The Homegrown School Feeding program targets pupils in public schools from primary one to primary three to receive meals during school sessions.
The various initiatives reflect the government’s dedication to supporting and improving the lives of Nigerians across different sectors and demographics.
Frequently Asked Questions (FAQs)
What is the Conditional Cash Transfer (CCT)? CCT is a government program that provides ₦5,000 to families in need of financial assistance.
How much will people receive if they want to start a business? Individuals interested in starting a business will receive ₦150,000 after completing training in relevant skills.
Where does the money for the program come from? The funding for the CCT program comes from a loan of $800 million obtained by Nigeria from the World Bank.
How many families will receive ₦8,000? A total of 12 million families will receive ₦8,000 per month for a duration of six months as part of the program.
How does the government ensure that the right people receive the money? The government employs specific measures and oversight to ensure the funds reach the intended recipients. The money is transferred directly from the Central Bank to the beneficiaries’ accounts, and there are monitoring mechanisms in place to maintain transparency.
Are there other government programs to assist people? Yes, there are additional government initiatives, including N-Power for young people, and programs providing food to school children. These programs aim to address various societal needs and challenges.
