Presidency has said the data of beneficiaries of its social investment programme, including conditional cash payment and micro credit scheme have been compiled for the take-off of the two schemes.
Vice President’s Senior Special Assistant on Media and Publicity, Laolu Akande, who made this known said that the data of conditional cash transfer of nine states is ready, while the process of paying the beneficiaries is at the final stage.
Under the programme, he explained that one million vulnerable and very poor people will receive N5,000 monthly.
On the micro credit scheme, Akande further stated that over one million people will receive small loans ranging from N20,000 to N100,000 through the bank of industry at very low interest rates.
Already 10,000 market associations and co-operative societies had been registered for the take-off of the scheme’s pilot stage in eight states and Abuja.
“Clearly we can see that despite the considerable constraints government have faced this year in revenue projections, the Buhari presidency has remained faithful to its promises on the Social Investment plans, with the full assurance that these programmes would seamlessly dovetail into the next budget cycle,” he said.