The National Cash Transfer Office, part of the National Social Investment Programmes Agency (N-SIPA), has disbursed N24,781,525,000 billion to support 991,261 household beneficiaries across all 36 states and the FCT, Abuja.
This initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which aims to alleviate poverty and enhance the livelihoods of vulnerable Nigerians.
In a statement dated September 26, 2024, National Coordinator and CEO of NSIPA, Assoc. Professor Badamasi Lawal, confirmed the release of funds, marking a significant step in resuming cash transfers after a suspension linked to fraud allegations against certain officials in the Ministry of Humanitarian Affairs, which resulted in the minister’s dismissal.
In August 2024, 153,038 households received N3,825,950,000, while September saw N20,955,575,000 distributed to 838,223 households. Each beneficiary received N25,000 through their Financial Service Providers (FSP).
Professor Lawal emphasized that the Renewed Hope Conditional Cash Transfer (RH-CCT) program aims to cushion the economic impact on poor and vulnerable households. The economic benefits extend beyond immediate poverty reduction, fostering improved household finances and savings.
Additionally, the program enhances beneficiaries’ health and nutrition, while promoting emotional and social well-being through strengthened livelihoods and family dynamics.
