World Bank votes money to alleviate poverty
By Jeph Ajobaju, Chief Copy Editor
Conditional cash transfer (CCT) to poor households in Nigeria is to be boosted with $800 million (N329.53 billion)from the World Bank that may expand the scheme.
The current scheme administered by the Ministry of Humanitarian Affairs gives out N5,000 per month to poor people who meet certain conditions, in a new type of social programme with the primary objective of alleviating poverty.
A CCT has a direct effect on poverty by providing an immediate additional income for the poor – who are in the millions in Africa’s most population country, which also has the second highest rate of unemployment in the world at 33 per cent.
Nigeria Governors’ Forum (NGF) Chairman and Ekiti State Governor Kayode Fayemi said the fund injection was made known to governors by World Bank Country Director Shubham Chaudhuri during a meeting.
A communique Fayemi issued after the meeting said: “Forum members also listened to the World Bank Country Director, Shubham Chaudhuri, on the rollout of a World Bank financed $800m facility designed to fund a large-scale Conditional Cash Transfer programme across the country.
“The forum thereafter resolved that each state governor will establish and chair a steering committee to oversee the Conditional Cash Transfer initiative to ensure that the programme aligns with the vision of the state government.”
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World Bank presentation
Fayemi disclosed that the NGF received a presentation from the Ministry of Humanitarian Affairs on the cash transfer programme of the federal government, per reporting by The PUNCH.
“On the National Social Register and the Rapid Response Register as critical tools for rolling out cash transfer programmes, members received a presentation from the National Coordinator of the National Social Safety Nets Coordinating Office, Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Mr. Iorwa Apera.”
Humanitarian Affairs Minister Sadiya Farouq has disclosed that millions of poor Nigerians have received financial palliatives through the National Cash Transfer Programme (NCTP) which began in 2016.
Background
The NCTP is also known as Household Uplifting Programme (HUP).
According to the NCTP website, the scheme was conceived as part of the larger growth and social inclusion strategies of the federal government to address key social concerns in the country.
It is a component of National Social Safety Nets Project (NASSP) which is supported by the World Bank to provide financial support to targeted poor and vulnerable Nigerian households.
The NCTP focuses on responding to deficiencies in capacity and lack of investment in human capital, especially among the poorest citizens.
Beneficiaries are mined from the National Social Register (NSR) which comprises State Social Registers (SR) of poor and vulnerable households.
SRs are being developed with training, supervision and guidance from the National Social Safety Nets Coordinating Office in Abuja.