President Bola Ahmed Tinubu has, in commemoration of the 2023 International Day for Eradication of Poverty, put action to his words by launching the disbursement of 25,000 Naira to 15 million households for three months as a Social Safety Net intervention (Renewed Hope Conditional Cash Transfer Programme) to mitigate the impact of the recent fuel subsidy removal and as a proven means of eradicating poverty globally.
The launch was performed on behalf of the President by the Secretary to the Government of the Federation, Senator George Akume at the State House Presidential Villa, Abuja.
Speaking during the launch of the program, the President enumerated various steps his administration has taken to ameliorate poverty in the country.
These, according to the president, include providing the policy framework and road map for an aggressive poverty alleviation drive in Nigeria, developing the Renewed Hope Agenda for humanitarian response and poverty alleviation, and expanding the National Social Register to capture Nigerians living below one dollar ninety-five cents per day.
Other steps, the President announced, are (i) restructuring the National Social Investment Programme and repositioning it for quick and efficient delivery that is transparent and accountable as well as partnering with the World Bank Group and other development partners to implement conditional cash transfers, business grants, and other forms of support for the most vulnerable households in the country.
ii. Investment of 100 Billion to purchase 3000 units of 20-seater Compressed Natural Gas (CNG) powered buses for cheaper transportation.
iii. Investment of N200 Billion to cultivate 500,000 hectares of farmland to improve food security.
iv. The release of 2000 metric tons of grains from the strategic grain reserves to households across the 36 States and the Federal Capital Territory.
v. The distribution of 225,000 metric tons of fertilizer and seedlings to farmers committed to the nation’s food security.
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vi. The release of 75 billion to support 100,000 SMEs and start-ups
vii. Renewed Hope Shelter Programme for the Poor, Refugees & Internally Displaced Persons targeted at one million households.
vii. Renewed Hope Business Grants & Loans for Vulnerable Market women, farmers, and traders to expand their business (GEEP) targeted at 2 million beneficiaries. among other interventions from various ministries through a multi-sectoral approach.
5 Things To know About Renewed Hope Conditional Cash Transfer Programme
1. The Renewed Hope Conditional Cash Transfer Programme is targeted at 15 Million vulnerable Households which represents about 60 Million Nigerians.
2. Each Beneficiary of the Renewed Hope Conditional Cash Transfer Programme will recieve N25,000 monthly.
3. The duration for the Renewed Hope Conditional Cash Transfer Programme is 3 Months.
4. Each Beneficiary of the Renewed Hope Conditional Cash Transfer Programme will recieve a total of N75,000 in 3 Months.
5. Beneficiaries are mined from the verified Social Register which is being updated from time to time.
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