President Muhammadu Buhari has
said 1.6 million households and eight million Nigerians are benefitting from
the Conditional Cash Transfers of his administration.
Buhari said the ongoing efforts
to reduce poverty in Nigeria has continued to grow, with 1.6 million poor and
vulnerable households, comprising more than 8 million individuals currently
benefiting from the Conditional Cash Transfer program.
The President claimed N300
billion has been disbursed to farmers across the country.
He disclosed this at the opening
ceremony of the 14th Annual Banking and Finance Conference of Chartered
Institute of Bankers of Nigeria and was contained in a statement by his
spokesman, Femi Adesina.
The President said the National
Social Register of poor and vulnerable Nigerians had 32.6 million persons from
7 million poor and vulnerable households identified, imploring bankers to play
a stronger role in improving livelihoods.
He said: “From this number, 1.6
million poor and vulnerable households, comprising more than 8 million
individuals are currently benefiting from the Conditional Cash Transfer
program, which pays a bi-monthly stipend of N10, 000 per household.’’
Buhari said the National Social
Investment Programme was the biggest in Sub-Saharan Africa and one of the
largest in the world.
“Some of the various initiatives
embarked upon to boost agric trade in Nigeria include the Anchor Borrowers
Programme through which the Central Bank of Nigeria had made more than 300
billion Naira available to over 3.1 million smallholder farmers of 21 different
commodities including Rice, Wheat, Maize, Cotton, Cassava, Poultry, Soybeans,
Groundnut, Fish, cultivating over 3.8 million hectares of farmland.
“It is on record that 80% of rice
consumed in Nigeria is now produced locally.’’
To further strengthen recovery
and enable more Nigerians, Buhari said, last year, he approved the
establishment of InfraCo Plc, a world-class infrastructure development vehicle,
wholly focused on Nigeria, with combined debt and equity take-off capital of
N15 trillion, managed by an independent infrastructure Fund Manager.
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