NSIPA confirms release of N24.78bn cash transfer to 991,261 households

The National Coordinator of the National Social Investment Programme Agency (NSIPA), Associate Professor Badamasi Lawal, announced on Thursday the release of N24.782 billion in conditional cash transfers (CCT) to 991,261 households across all 36 states and the Federal Capital Territory (FCT).

In a statement made available to Humanitarian Correspondents in Abuja, Lawal detailed that each beneficiary received N25,000 through their respective Financial Service Providers (FSPs).

Objective of the Initiative

He emphasized that the initiative aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, aimed at alleviating poverty and improving the livelihoods of vulnerable Nigerians. Lawal stated:

“The National Cash Transfer Office under the NSIPA has released N24,781,525,000 for the payment to 991,261 household beneficiaries across the 36 states and the FCT.”

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Recent Disbursements

In August 2024, a total of 153,038 household beneficiaries received N3,825,950,000. Similarly, in September 2024, N20,955,575,000 was disbursed to 838,223 household beneficiaries.

Impact of the Program

Lawal outlined the intended benefits of the Renewed Hope Conditional Cash Transfer (RH-CCT) program, which include:

• Economic Benefits: Immediate poverty reduction, improved household finances, and enhanced savings capacity.
• Health Benefits: Greater access to health and nutritional services.
• Emotional and Social Benefits: Improved livelihood, stronger interpersonal relationships, and enhanced family happiness.

This program is designed to provide essential support to the most disadvantaged populations, helping them to regain financial stability and improve their quality of life.