FG Unveils ₦6 Billion Cash Transfer and Loan Program for Nigerians – See Who Qualifies

FG Unveils ₦6 Billion Cash Transfer and Loan Program for Nigerians – See Who Qualifies

Naijaonpoint Media reports that the Federal Government has unveiled details of its ₦6 billion initiative aimed at helping vulnerable Nigerians through cash transfers and interest-free loans. This program is designed to support households and farmers affected by natural disasters and crises.

Breakdown of Beneficiaries for FG Cash Transfers Starting February 2025

Here’s a simple breakdown of how the funds will be distributed and who will benefit:

1. Cash Transfer Program

• Approved Budget: ₦4 billion
• Beneficiaries: 10 million displaced households
• Purpose: To provide relief for families, especially in the Northeast affected by crises.
• Duration: February to April 2025
• Focus Groups:
  • Widows
  • Pregnant women
  • Women with disabilities

2. Interest-Free Loans for Farmers

• Approved Budget: ₦2 billion
• Loan Amount Per Household: Between ₦300,000 and ₦400,000
• Beneficiaries: Farmers living in rural areas
• Goal:
  • Boost food production
  • Encourage self-sufficiency among local farmers

Focus of the Program

The initiative is specifically aimed at:

• Displaced women, including widows and pregnant women.
• Families affected by crises or natural disasters.
• Farmers in rural communities who need financial assistance to improve their productivity.

Goals and Strategy

• Main Goal: Provide immediate relief while also promoting long-term support for vulnerable groups.
• Strategy:
  • Collaboration between humanitarian and development agencies.
  • Integrating peacebuilding efforts to create lasting solutions.

This program is part of the Federal Government’s efforts to help struggling families and empower communities to rebuild and thrive.