The President, Muhammadu Buhari, has revealed that the Federal government will in October launch its N15 trillion infrastructure fund.
This as he urged commercial banks to join efforts with the government in alleviating poverty; adding that 1.6 million poor and vulnerable households, comprising more than eight million individuals are currently benefiting from the Conditional cash transfer fund which pays a bi-monthly stipend of N10,000 per household.
Buhari said this on Tuesday in Abuja while speaking virtually at the opening of the 14th Annual Banking and Finance Conference of Chartered Institute of Bankers of Nigeria.
Special Adviser to the President on Media and Publicity, Femi Adesina, disclosed this in a statement titled ‘President Buhari says 1.6m households, eight million individuals benefiting from conditional cash transfers’.
The President said the National Social Register of poor and vulnerable Nigerians had 32.6 million persons from seven million poor and vulnerable households identified, imploring bankers to play a stronger role in improving livelihoods.
He explained that ongoing efforts to reduce poverty in the country continue to grow, with 1.6 million poor and vulnerable households, comprising more than 8 million individuals currently benefiting from the Conditional Cash Transfer program, while N300 billion has been disbursed to farmers.
“From this number, 1.6 million poor and vulnerable households, comprising more than 8 million individuals, are currently benefiting from the Conditional Cash Transfer programmme, which pays a bi-monthly stipend of N10, 000 per household,’’ he said.
According to him, the National Social Investment Programme was the largest in Sub-Saharan Africa and one of the largest in the world.