President Bola Ahmed Tinubu has launched the Renewed Hope Conditional Cash Transfer program, targeting 15 million households.
The event took place on World Poverty Eradication Day at the State House in Abuja, with the Secretary to the Government of the Federation, George Akume, representing the president.
This initiative, coordinated by the Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu, will provide N25,000 monthly to each beneficiary for three months, totaling N75,000.
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Another scheme called ‘Iya Loja Funds,’ offering soft loans of N50,000 to support petty traders, is in the pipeline.
Farmers will also receive incentives to enhance their yields during the next farming season.
The World Bank has pledged support for the program, and a biometric auditing system will be implemented to ensure efficient and accountable fund distribution.
