The World Bank which is considered as the largest bank in the world has
finally released $299.99 million to Nigerians out of the $800 million that was approved for the National Social Safety Net Program-Scale Up.
This was made public after it was confirmed that the disbursement of funds was made recently by the World Bank.
The World Bank approved the National Social Safety Net Programme-Scale Up is to start on December 16, 2021, and is expected to run till June 30, 2024. The $800 million programme is to be supervised by the Federal Ministry of Humanitarian Affairs & Poverty Alleviation.
The Federal Government plans to give a monthly cash transfer programme for poor and vulnerable Nigerians who are affected by the removal of fuel subsidy and rising inflation in the country with the loan.
It was reported in October 2023, that President Bola Tinubu launched the cash transfer programme that aims at supporting 15 million households with N75 million for a period of three months.
Upgrade to Make The Programme Run Smoothly
Also, it's reported that the federal government is looking to team up with some consulting firms to help in upgrading the system for the cash transfer programme to run smoothly.Concerning the aim of upgrading the cash transfer programme to run smoothly, the World Bank has this to say,
Read more: https://www.investingport.com/world...gerians-from-the-800-million-palliative-loan/