9.2 Million Nigerians Benefit from Cash Transfer Program

The Federal Government of Nigeria announced that 9.2 million vulnerable Nigerians have benefited from its cash transfer program, which is part of the National Social Safety Net Project. The program aims to provide direct financial support to poor and vulnerable households across the country, with each eligible household receiving a total of 75,000 Naira distributed in three tranches.

As of now, 7,203,579 beneficiaries have received the second tranche, while 6,497,089 have received the third. The program targets a total of 15 million vulnerable Nigerians by June 2024.

The cash transfer initiative is funded by an $800 million loan from the World Bank and aims to increase the number of beneficiaries to 10.4 million. The National Identity Management Commission reported that as of February, 13,240,100 individuals were recorded, with 11,831,861 successfully verified.

The program emphasizes the importance of women, with 5,391,225 women representing 58.7% of beneficiaries.