The Federal Government (FG) has announced a significant milestone in its poverty reduction efforts, confirming the disbursement of over ₦300 billion through the Conditional Cash Transfer scheme, which has successfully reached more than 8.1 million households across Nigeria.
This major financial disclosure was made by the Minister of State for Humanitarian Affairs and Poverty Reduction, Yusuf Sanunu, at a roundtable event held in Abuja to mark the International Day for Disaster Risk Reduction. The Minister emphasized that the funds, managed under the National Social Investment Agency, are a critical part of President Bola Tinubu’s “Hope Agenda,” designed not only to alleviate poverty but also to significantly boost the resilience of local communities. The money is intended to enhance the beneficiaries’ capacity, improve their health outcomes, and support their education.
Beyond the Conditional Cash Transfer, Minister Sanunu also unveiled further government initiatives targeting vulnerable groups, particularly those affected by natural disasters. He revealed plans to issue ₦6.3 billion in interest-free and collateral-free loans, amounting to ₦300,000 each, for 21,000 Nigerians who suffered losses due to flood disasters across the country. This loan scheme is aimed at addressing farming crises and mitigating the future impact of flooding.
In a move to empower Internally Displaced Persons (IDPs), the government is also collaborating with the Federal Ministry of Agriculture on a new program. This scheme aims to address food security by involving IDPs in farming within their camps and host communities. The formula dictates that IDPs will receive 30% of the produce, while the government will off-take the remaining 70%, providing the IDP participants with a vital cash component
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