ABUJA, NIGERIA — The World Bank has confirmed the Federal Government’s disbursement of ₦658.9 billion in cash transfers to 10.46 million poor households in Nigeria.
The confirmation was contained in the World Bank’s latest report on Nigeria’s social safety net programme. The report was released on Sunday.
The Disbursement
The funds were disbursed under the government’s Conditional Cash Transfer programme. The programme is designed to support vulnerable Nigerians.
The World Bank said the disbursement represents a significant investment in poverty reduction. It noted that the funds reached households across the country.
The report said the programme has helped to cushion the impact of economic reforms on poor families.
World Bank’s Recommendation
The World Bank urged the government to expand the programme. It said wider coverage would reach more vulnerable households.
The bank also recommended improved targeting. It said the programme should reach those who need it most.
“We commend the government for this effort. But more needs to be done. The coverage should be expanded to reach all eligible households,” the report stated.
Government’s Commitment
The Federal Government said it is committed to expanding the programme. It said it is working to improve the targeting mechanism.
The government also said it is collaborating with development partners to strengthen the social safety net.
What This Means
The cash transfer programme is a critical intervention. It provides direct support to poor households.
The funds help families to meet their basic needs. They also boost local economies.
However, challenges remain. Some households have complained of delays in payment. Others say the amounts are insufficient.
What Happens Next
The World Bank will continue to monitor the programme. It will provide technical support to the government.
For now, the government is focused on expanding the programme. It aims to reach more households in the coming months.
