President Bola Tinubu has launched a monthly N25,000 payment to 15 million households, aiming to address economic challenges.
This conditional cash transfer aligns with the Memorandum of Understanding between the Federal Government and Organised Labour.
The move comes after Labour’s suspended strike plan, focusing on immediate actions outlined in the October 2 agreement, with a 30-day implementation window.
Tinubu, represented by SGF George Akume, emphasizes partnerships for social safety net expansion. The initiative seeks to provide dignified work opportunities and sustained social protection.
Additional interventions include investments in transportation, farmland cultivation, SME support, and Renewed Hope programs for various groups.
Minister of Humanitarian Affairs Dr Betta Edu states that 61 million Nigerians stand to benefit over three months. World Bank representative Shubham Chaudhuri acknowledges the effectiveness of cash transfers in reducing poverty.
Tinubu presents dummy cheques to initial beneficiaries, highlighting a commitment to poverty alleviation and economic stability.
These comprehensive efforts align with the President’s priority to tackle poverty, as outlined by Nigeria’s Minister of Finance and Coordinating Minister of Economy, Mr Wale Edun.
