Recent findings from the World Bank have revealed that a staggering 99.9% of the targeted impoverished and vulnerable households in Nigeria are still awaiting the disbursement of the Federal Government’s promised N25,000 monthly cash handout.
As disclosed by The Times, the data was shared by the World Bank’s Lead Economist for Nigeria, Alex Sienaert, during the Nigeria Development Update in December 2023 in Abuja. The government’s plan is to provide a three-month cash transfer of N25,000 per month to low-income households, with President Bola Tinubu launching the Conditional Cash Transfer Program on October 17, 2023. This initiative has received funding support of $800 million from the World Bank and aims to aid 15 million Nigerian households earning less than N75,000 per month, categorized as poor, near-poor, or vulnerable.
“It is disheartening to learn that the vast majority of Nigerian households in dire need are still waiting for the promised financial assistance, despite the announcement of this ambitious program,” said Alex Sienaert, the World Bank’s Lead Economist for Nigeria.
In the wake of these revelations, concerns have been raised about the effective implementation of the cash transfer program and the urgency required to address the financial hardships faced by millions of Nigerian families.
Furthermore, with the program being a cornerstone of the government’s efforts to alleviate poverty and provide crucial support to the most financially vulnerable, the delay in disbursement raises significant questions about the program’s efficacy and the necessity for swift and transparent action to rectify this situation.
As the nation eagerly anticipates the fulfillment of these promises, there is a collective hope that the government and its partners will take immediate and decisive steps to ensure that the intended beneficiaries receive the vital support they so desperately require.
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