FG Unveils Conditional Cash Transfer, Targets 15m Households

To commemorate World Poverty Eradication Day, President Bola Tinubu has launched the Renewed Hope Conditional Cash Transfer to target 15 million vulnerable households in Nigeria as a significant stride in the fight against poverty and to cushion the effect of the fuel subsidy.

The United Nations noted that the International Day for the Eradication of Poverty is celebrated annually on October 17 to promote understanding and dialogue between people living in poverty and the wider society with the theme: “Decent Work and Social Protection: Putting dignity in practice for all.”

As reported by Statista, in 2022, approximately 88.4 million individuals in Nigeria were living in dire poverty.

This figure encompassed roughly 44.7 million men and 43.7 million women surviving on less than 1.90 U.S. dollars per day in the country.