A new report by the World Bank has revealed that since the Federal Government’s N5,000 monthly cash transfer program was established in 2016, only 19.4% of Nigerians have benefitted from the scheme. The report also indicated that an estimated 42.69 million poor Nigerians were excluded from the program, which means that only about 40.21 million Nigerians benefitted from the cash transfer program. The report further highlighted that about 40% of Nigerians lived on less than the national poverty line at the end of 2022, with an additional 25% of the population at high risk of falling into poverty.
The Federal Government’s N5,000 monthly cash transfer program, established in 2016, has only benefited 19.4% of Nigerians.
