Federal Government Sets To Pay #5000 Monthly Stipend To 1M Poor Nigerians – Nigerian News| Faith Ola's Blog, Read latest Celebrity News Federal Government Sets To Pay #5000 Monthly Stipend To 1M Poor Nigerians - Nigerian News| Faith Ola's Blog, Read latest Celebrity News

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Federal Government Sets To Pay #5000 Monthly Stipend To 1M Poor Nigerians

The Federal Government has announced that it has started payment of N5,000 monthly stipend to one million of the poorest and most vulnerable in the country through the Conditional Cash Transfer (CCT) of its Social Investment Programmes (SIP).



This was disclosed in a statement by the Senior Special Assistant (Media and Publicity), to Vice President Yemi Osinbajo, Laolu Akande on Monday

Akande disclosed that under the CCT, one million Nigerians would receive N5000 monthly payments as a form of social safety net for the poorest and most vulnerable as budgeted for in the 2016 Budget.

“In the first batch that commenced last week, nine states would be covered, and many of the beneficiaries have already reported that they have received their first payments on Friday last week, December 30, 2016,” the statement said.

Akande also said that N-Power beneficiaries are already receiving the N30,000 monthly stipend, adding that the Micro-Credit Scheme of the SIP aimed at giving soft loans (N10,000 – N100,000) to about N1.2m artisans, traders and market women is also being implemented.

He also said that the National Homegrown School Feeding  Programme has begun in 3 states.

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