The Nigerian Senate Wednesday received President Muhammadu Buhari’s request to approve additional financing of the National Social Safety Network Program, to the tune of 800 million dollars.
The funds will be transferred to 10.2 million poor and low income households for a period of six months with a multiplier effect on 60 million individuals.
Also Read: President Buhari extends visit to London for treatment of his teeth
Under the conditional cash Transfer window of the program, each of the 10.2 million individuals will receive the sum of Five thousand Naira (5,000) naira per month.
The request is contained in a letter read by the president of the Senate Ahmed Lawan during Plenary.
President Buhari in the letter explained that the Federal executive council approved an additional loan facility of 800 million Dollars to be secured from the world bank to fund the national social safety network program.
According to him, the program is intended to expand coverage of short responses and safety net support among the poor and vulnerable Nigerians to assist them cope with the cost of basic needs.
He stated that, in order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries’ account and their mobile wallets.
The request further states that the NASSP, being a social intervention program, will stimulate activities in the informal sector, and improve the nutrition, health, education, and human capital development of beneficiaries’ households.
He urged the lawmakers to expeditiously consider the request for proper implementation.
Editor: Paul Akhagbemhe
