President Bola Tinubu officially launched the Renewed Hope Conditional Cash Transfer program for 15 million households on Tuesday. The event, held at the State House in Abuja, coincided with World Poverty Eradication Day.
The President was represented by the Secretary to the Government of the Federation, George Akume.
Notable dignitaries in attendance included the Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu; Minister of Finance, Wale Edun; World Bank Country Director, Shubham Chaudhuri; and the United Nations Resident and Humanitarian Coordinator for Nigeria, Matthias Schmale, among others.
During his Independence Day broadcast on October 1, 2023, President Tinubu announced the launch of the cash transfer program, emphasizing its focus on vulnerable citizens. The program aims to benefit 15 million households, which translates to approximately 62 million Nigerians.
According to the Minister of Humanitarian Affairs, each beneficiary will receive a monthly transfer of N25,000 for three months, resulting in a total of N75,000 per beneficiary. Additionally, the minister revealed that another scheme named ‘Iya Loja Funds’ is set to be launched in the near future. This scheme will provide soft loans of N50,000 to support petty traders.
