President Tinubu Starts Conditional Cash Transfer Of N25,000 Per Month To 61 Million Nigerians

President Bola Tinubu has started distributing N25,000 per month to 15 million households (61 million people) across Nigeria under the Renewed Hope conditional cash transfer program.

Addressing several guests including international partners at the Press Gallery of the State House in Abuja on Tuesday, the president said he has flagged off the conditional cash transfer program, which reportedly aims to uplift the poor and vulnerable Nigerians to "cushion the effects of fuel subsidy removal and other economic shocks."

"The theme of this year's commemoration, 'Decent work and social protection: Putting dignity in practice for all,' is no doubt in perfect alignment with the Renewed Hope agenda," the president said, as per Punch.

Tinubu explained that his government will ensure all Nigerians have decent opportunities for dignified work and sustained social protection, adding that the government is already working on several solutions and interventions to make Nigerians' lives easier.

Betta Edu, minister of humanitarian affairs and poverty alleviation of Nigeria, said the conditional cash transfer scheme will benefit 61 million Nigerians every month in October, November and December.

"So, in total, 15 million households will be receiving 75,000 Naira over three months," she said. "This equates to about 61 million Nigerians directly benefiting from the conditional cash transfer."

"If we are sincere with ourselves and as a country, we all must put our hands together to make progress," Edu added. "We must recognize the fact that indeed there is a need for that urgent intervention to Nigerians need to feel the renewed hope agenda 75,000 Naira."

Aside from cash transfers, the government will also provide "low-cost shelter for the poor and internally displaced persons as a form of providing that cover for them." There are reportedly "several other interventions, including the Rural Vocational Skills Intervention," which will be "carried out at a mass scale."

"All of these are targeted at the various dimensions of poverty in the country," Edu said in conclusion.

Also present at the event during which the president made the announcement were Wale Edun, minister of finance; Shubham Chaudhuri, country director of World Bank; and Matthias Schmale, United Nations resident and humanitarian coordinator for Nigeria.

The transfer began after the federal government and the Labor Union signed a memorandum of understanding on Oct. 2 to stop the planned strike announced by the union last month following the increase in fuel prices caused by subsidy removal.