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FG to launch new stimulus package named “Grant for Vulnerable Groups”; See criteria for application

The Federal Government has taught it wise to rollout another grant that will better the lives of vulnerable Nigerians

Honourable Sadiya Umar Farouq, the Minister for Humanitarian Afair, Disaster Management and Social Development has disclosed the plans to newsmen in Abuja said, “ the Grant is part of the Buhari administration’s plan to lift a total of 100 million Nigerians out of extreme poverty by 2030.

She revealed that the initiative actually started in 2016 and was to be imbedded together with the Conditional Cash Transfer (CCT). However, while the Conditional Cash Transfer was implemented leaving the “Grant for Vulnerable Groups”, in 2021 appropriation the Federal Executive Council approved it’s inauguration this year, the Minister said.[irp]

She expressed further that, Conditional Cash Transfer as a cluster of the National Social Investment Programme has significantly impacted the lives of rural women in particular.

However, a date is yet to be fixed as to when the inauguration of the Programme will be done. She said:

“The ministry supported the rural women because they were enterprising and with little cash they would start a small business to fry bean cake and other consumables.

“And in most cases, they use their gains or profits to support their families, which is another reason why we support the women.

“However, due to the positive impact of the programme on rural women, we decided to expand it because the men were fully left out, but in 2021 appropriation, we named it `Grant for Vulnerable Groups’.

“This is to further sustain the social inclusion agenda of Buhari’s administration; it is consistent with the national target of lifting 100 million Nigerians out of poverty by the year 2030.’’

Despite the huge surge in the Country’s inflation rate, the Federal Government hope with little cash of just N5,000 rural dwellers will be positively transformed.[irp]

The minister said that it was also designed to provide a one-off financial grant to the poorest and most vulnerable people, women, men, disabled and the aged persons in rural and urban areas of the country.

“The cash grant of N20, 000 each will be disbursed to these target beneficiaries across the 36 states of the federation and the Federal Capital Territory,’’ Farouq said.

According to her, the main objective for the Grant for Vulnerable Group Programme is to increase income and productive access of the target beneficiaries.

She said the specific objectives were to increase access to financial capital and income generating activities and also promote financial inclusion among “unbanked” and “underserved” populations.

Written by Newsway

NewsWay reporters are Media employees of the newsway.com.ng vested with the responsibilities of getting informative data from verifiable sources and publishing same undistorted on behalf of the NEWS WAY INFO-TECH which is a parent company that birthed the NewsWay blog.

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