The Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu, has disclosed that N25,000 will be transferred to the registered 15 Million Households for three months.
Edu noted this at the launching of the the ‘Renewed hope conditional cash transfer to 15 million households’ that was held at the Press Gallery of the State House in Abuja, on Tuesday, October 17.
The event coincided with the World Poverty Eradication Day.
The president, Bola Ahmed Tinubu was represented by the Secretary to the Government of the Federation, George Akume.
Other attendees include, Minister Of Finance, Wale Edun; World Bank Country Director, Shubham Chaudhuri; and the United Nations Resident and Humanitarian Coordinator For Nigeria, Matthias Schmale; amongst other.
Recall that the President had in his maiden Independence Day broadcast to Nigerians on October 1, 2023 announced the cash transfer programme which he said would target vulnerable citizens.
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 said that the first phase of the payments had already begun, adding that the names of beneficiaries were gotten from the national social register.
“Verification has been ongoing in the last three weeks, and Nigerians that are on that register have been verified with their biometrics verification number (BVN), national identification number (NIN), as well as all the forms of in-person verification at the points of their household,” she said.
“Remember that it would be an expansion of this register, which would carry the vulnerable pensioners, veterans and wives of fallen heroes, as well as other areas of concern where they were not fully captured, but however, we are starting.
“And what we are starting with are those that have been verified across all the states in Nigeria.”
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.
