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News

Breaking: Tinubu Shocks Nation -15M Homes Set for N75,000 Cash Bonanza!

The World Bank has recently allocated a significant sum of approximately $299.99 million to Nigeria as part of the approved $800 million for the National Social Safety Net Program-Scale Up.

Information sourced from the Bretton Woods institution indicates that, with 37.5% of the total loan disbursed, there remains a pending balance of approximately $442.88 million.

The National Social Safety Net Programme-Scale Up, sanctioned by the World Bank on December 16, 2021, is slated to remain operational until June 30, 2024.

Tasked with the implementation of the $800 million program is the Federal Ministry of Humanitarian Affairs & Poverty Alleviation.

Utilizing this loan, the Federal Government aims to initiate a monthly cash transfer program, specifically targeting impoverished and vulnerable Nigerians adversely affected by recent policies, including the removal of fuel subsidies.

A notable development occurred in October 2023 when President Bola Tinubu formally launched the long-anticipated conditional cash transfer program. This initiative is designed to benefit 15 million households nationwide, with an earmarked disbursement of N75,000 within a three-month period.

This financial infusion underscores the commitment to addressing socio-economic challenges, providing a lifeline for those grappling with the repercussions of recent policy changes while striving to uplift the vulnerable segments of the Nigerian population.

Aliyu Mai Kakee