By Jennete Ugo Anya
The World Bank has disbursed $299.99 million to Nigeria as part of the approved $800 million for the National Social Safety Net Program-Scale Up.
The recent disbursement, representing 37.5 percent of the total loan, leaves a pending balance of $442.88 million.
The program, sanctioned by the World Bank on December 16, 2021, is set to continue until June 30, 2024, overseen by the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.
The loan aims to support a monthly cash transfer initiative for economically disadvantaged Nigerians affected by recent policies, including the removal of fuel subsidies.
In October 2023, President Bola Tinubu officially launched a conditional cash transfer program targeting 15 million households, promising N75,000 within three months.
