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Home Business News Business

Conditional Cash Transfer: 283,003 Lagos residents to receive N25,000 from FG 

Cyrus Ademola by Cyrus Ademola
January 10, 2024
in Business
MPC, inflation, CBN
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The Federal Government has initiated the training of facilitators for the Renewed Hope Conditional Cash Transfer program in Lagos State, aiming to enrol 283,003 beneficiaries. 

Dr. Michael Ajuluchuku, the National Programme Manager of the National Cash Transfer Office (NCTO) in Abuja, expressed during a one-day training in Lagos on Tuesday that the initiative is designed to offer financial relief to vulnerable citizens in the state. 

According to Ajuluchuku, the step-down training is structured to prepare facilitators for enrolling the 283,003 beneficiaries in the state. 

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He demanded payment from the facilitators for ensuring a rapid enrollment of beneficiaries, completing the circle according to the initial plan. 

He mentioned that the project will prioritize households in both rural and urban areas, specifically targeting those classified as poor and vulnerable across the country. 

  • “The design of the scale of NASSP-SU intervention has two components, Shock Responsive Social Protection (Urban), and Shock Responsive Social Protection, (Rural) that is aimed at providing N25,000 for three months to beneficiaries amounting to N75,000,” he said. 

Selection Process for the Cash Transfer 

Speaking about the selection process, Ajuluchuku highlighted the National Social Safety Net Project’s two program-implementing units. The National Social Safety Net Coordinating Office is specifically tasked with gathering data on the poor and vulnerable across the country. 

  • “Basically, their mandate is to generate data of the poor and the vulnerable. 
  • “The second programme implementation unit is the National Cash Transfer Office, which is mainly responsible for delivering the intervention. 
  • “To us at NCTO, we mine these two data of the poor and vulnerable from the National Safety Net Coordinating Office. 
  • “The criteria are that the beneficiaries must be poor and vulnerable and must fall between the poverty line as established by the Federal Government so that is how these data is gotten for intervention,” he said.  

What you should know 

  • President Bola Tinubu decided to sustain the conditional cash transfer project which started with the former administration of Muhammad Buhari because of the impact the programme had made in the lives of Nigerians. 
  • The president launched the Renewed Hope Conditional Cash Transfer (CCT) in November 2023 to mitigate amongst others, the economic shocks arising from government policies. 
  • The Renewed Hope Conditional Cash Transfer programme aims to offer a cash transfer of N25,000 for three months to 15 million Nigerian households. 
  • “This is basically because the country is hit with a lot of challenges, economic, inflation, fuel subsidy removal and so on. 
  • “The government is not just sitting back without addressing the challenges,”  Ajuluchuku said. 

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Tags: CCT
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

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Comments 2

  1. Adamu Mohammed Shekur says:
    January 10, 2024 at 7:24 am

    I wonder if that #25000 government is intending to give out to the populace should be used to subsidize fuel which will ease the populace lives than any other aid.

    Reply
  2. Isaac enudeme hossana says:
    January 12, 2024 at 12:32 am

    How can I get my

    Reply

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