Renewed Hope: FG Disburses Over N10bn to 411,292 Households

The Federal Government of Nigeria has disbursed over N10 billion to more than 411,000 households across the 36 states of the country and the Federal Capital Territory (FCT) under the Renewed Hope Conditional Cash Transfer (RH-CCT) initiative. This initiative is part of the government’s efforts to alleviate poverty and improve the livelihoods of the most vulnerable citizens.

The National Social Investment Programme Agency (NSIPA) announced that the sum of Ten Billion, Two Hundred and Eighty-Two Million, Three Hundred Thousand Naira (N10,282,300,000) has been released as the second tranche of payments. This was confirmed by the National Coordinator and CEO of NSIPA, Associate Professor Badamasi Lawal, PhD.

According to Professor Lawal, the funds were transferred directly to the beneficiaries’ bank accounts as part of the RH-CCT programme, which targets the poor and vulnerable. “It is part of Mr. President’s Renewed Hope Agenda aimed at alleviating poverty and improving the livelihoods of poor and vulnerable Nigerians,” he stated.

He emphasized that the programme is a crucial component of the government’s broader strategy to address economic hardships facing millions of citizens. “The programme demonstrates the government’s commitment to supporting the poor, vulnerable populations and promoting economic growth,” Professor Lawal added.

The RH-CCT initiative falls under the broader National Social Investment Programme, which has been a key tool for the government in its fight against poverty. The programme, initiated under the leadership of President Bola Ahmed Tinubu, GCFR, Commander-in-Chief of the Nigerian Armed Forces, seeks to provide financial assistance to households in need, thereby promoting social welfare and economic stability.

This latest disbursement marks a significant step in the government’s efforts to cushion the effects of economic challenges on Nigeria’s most vulnerable populations.