Public Management

Nigeria: Govt supports Covid-19 affected households with N10bln

Nigeria: Govt supports Covid-19 affected households with N10bln
Thursday, 21 January 2021 15:52

The Nigerian government has just launched a support program for households that are hard hit by the Covid-19 pandemic. Under the Rapid Response Register (RRR), the poorest people in the country will receive a monthly allowance of N5,000 ($13).

Yemi Osinbajo, the Federal Republic’s Vice President, said this initiative is aimed at curbing the impacts of the pandemic but also reducing poverty across the country as part of the National Social Protection Policy (NSPP) launched in 2017. As of December 31, 2020, about 24.3 million poor and vulnerable people were identified in the national social register, the equivalent of about 5.7 million households, Mr. Osinbajo said.

The RRR program will assist 1 million families through direct cash transfer over the first six months of 2021. With Nigeria facing an economic crisis, the government has set a target of lifting 20 million people out of poverty within the next two years. This goal could however be hampered by some difficulties caused by the pandemic which, according to the World Bank, could push 40 million people into extreme poverty. 

“Through this project, we are currently injecting about N10 billion directly into the hands of about 2 million poor and vulnerable people every month,” Mr. Osinbajo said, stressing that the success of the RRR scheme will motivate the government to proceed with the deployment of a social safety program.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Chari raises record $12M Series A to expand fintech services Secures central bank license to launch super-app for merchants Moroccan...
Burkina Faso orders NGOs to use state-run bank for all funds Move follows arrests, aims to tighten oversight of foreign NGOs Burkina Faso issued...
The International Finance Corporation (IFC) plans to invest up to $25 million in the African Transition Acceleration Fund (ATAF). The fund aims...
Tunisia seeks $3.7B loan from central bank in 2026 Economists warn of inflation, liquidity risks from domestic borrowing IMF talks stalled;...

Most Read
01

Côte d’Ivoire traced 40% of cocoa for 2024/25 season Most cocoa remains untracked due to info...

With 40% of Its Cocoa Traceable, Côte d’Ivoire Faces a Race to Meet New E.U. Standards
02

• World Bank raises 2025 growth forecasts for Benin, Mali, Burkina, Côte d’Ivoire• Senegal and Niger...

World Bank Revises Up 2025 Forecasts for Four WAEMU Countries, Amid Falling Inflation
03

• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.• Talks focused on jo...

AfDB, BOAD join forces to expand financing for West Africa projects
04

Indorama to invest $210M in Senegal phosphate sector upgrade ICS to expand fertilizer, acid ...

Indorama, Petrochemicals Major, to Invest $210 Million in Senegal Fertilizer Plant
05

Africa holds 30% of key minerals for green tech. Leaders urge local processing to boost value...

African Countries Chart a New Green Industrial Path, Powered by Critical Minerals
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.