The Nation Newspaper Cash transfer, best way to fight poverty, says Minister
Edu said that the CCT was part of efforts by the Tinubu-led administration to alleviate the immediate effect of the removal of subsidy on Premium Motor Spirit , known as petrol.
The CCT programme was announced by Tinubu during the Independence Day speech, where he said that 15 million households would each be given N25,000 for three consecutive months to alleviate the poverty level. She also said that the N30,000 Iyaloja loan scheme would soon be started for small-scale traders in the country as part of economic revitalisation and empowerment.
Edun said that programme was one of the various measures taken by President Bola Tinubu to alleviate the suffering of Nigerians occasioned by the fuel subsidy removal.The World Bank Country Representative, Mr Shubham Chaudhuri, said that the institution was ready to support Nigeria for taking the bold economic measure for diverting funds from the shackles of fuel subsidy.
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