The World Bank has said that the conditional cash transfer scheme of the Nigerian Government had little impact on household consumption, financial inclusion or employment of the beneficiaries.
According to the findings in a new research document posted on the World Bank website on Wednesday, the scheme was said to have had minimal impact on women’s employment.
The report by Punch newspaper on Thursday said that this was despite the global lender funding a significant chunk of the cash transfer programme signed off to Nigeria as a loan.
It added that in 2016, the Nigerian Government in collaboration with the World Bank launched a social safety net programme for the nation. The project is being implemented through the National Social Safety Nets Project.
“At its launch, the government planned to share N5,000 to one million Nigerians as part of its N500bn social intervention package. In the following years of President Muhammadu Buhari’s administration, the programme was sustained alongside others,” the report said.
It disclosed that the Nigerian government secured a $800 million World Bank facility planned to be disbursed in the form of cash transfer to the most vulnerable Nigerians, following the removal of the petrol subsidy by the government..
GIK/APA
World Bank says Cash transfer scheme of Nigerian govt has not yielded desired results
