The World Bank has released a report indicating that a vast majority of the intended recipients have not yet benefited from the Nigerian Federal Government’s recent initiative to provide a monthly cash handout of N25,000 to poor and vulnerable households.JAMB Portal

This information, as reported by The Times, was disclosed by Alex Sienaert, the World Bank’s Lead Economist for Nigeria, during the Nigeria Development Update in December 2023, held in Abuja.NYSC Portal

The Federal Government’s plan, as outlined in Sienaert’s presentation, is to distribute cash transfers to low-income households, amounting to N25,000 per month for a duration of three months. This initiative, known as the Conditional Cash Transfer Program, was launched by President Bola Tinubu on October 17, 2023, and is supported by a funding of $800 million from the World Bank.informationguidenigeria

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The program’s objective is to aid approximately 15 million Nigerian households, particularly those earning less than N75,000 per month. These households are categorized as poor, near-poor, or vulnerable.JAMB Result

Despite the ambitious goals of this program, the World Bank’s report suggests that the execution has so far been lacking, with 99.9% of the targeted beneficiaries yet to receive the promised financial support.

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