Federal Govt Release Funds For N25k Cash Transfer To Household Across Nigeria

Federal Govt Release Funds For N25k Cash Transfer To Households Across Nigeria.

The Federal Govt through the National Social Investment Program Agency NSIPA has released a fresh update regarding the payment of N25,000 to households across Nigeria.

According to NSIPA, the Renewed Hope Agenda of President, Bola Ahmed Tinubu, GCFR, aims to alleviate poverty and improve the livelihood of poor and vulnerable Nigerians.

The National Cash Transfer Office under the National! Social Investment Agency (NSIPA) has released the sum of N24, 781,525,000 for the payment of 991,261 household beneficiaries across the 36 States and the FCT Abuja.

In August 2024, a total number of 153,038 household beneficiaries received the sum of N3,825,950,000. Similarly, in September 2024 the sum of N20, 955,575,000 was paid to 838,223 household beneficiaries across the 36 States and the FCT. Each beneficiary received N25,000 through their Financial Service Providers (FSP).

The Renewed Hope Conditional Cash Transfer (RH-CCT) aims to cushion the economic shocks of the beneficiaries, mostly the poor and vulnerable Nigerian households.

The economic benefits include but are not limited to immediate poverty reduction, improved household finances, and savings ability of the beneficiaries. The health benefits provide opportunities for the beneficiaries to improve their health and nutritional services. The emotional and social benefits include livelihood, interpersonal relationships, and family happiness.