President Buhari Seeks Senate Approval Of 800 million dollars loan For NSSP
Written by Tunde Adeyemi on May 10, 2023
The Nigerian Senate has received president Muhammadu Buhari’s request to approve additional financing of the National Social Safety Network Program, to the tune of 800 million dollars.
President Buhari in the letter explained that the federal executive council approved an additional loan facility of 800 million Dollars to be secured from the world bank to fund the national social safety network program.
According to him, the program is intended to expand coverage of short responses and safety net support among the poor and vulnerable Nigerians to assist them cope with the cost of basic needs.
He said in order to guarantee the credibility of the process, digital transfers will be made directly to beneficiaries account and their mobile wallets.
The President urged the lawmakers to expeditiously consider the request for proper implementation
Under the conditional cash transfer window of the program, each of the 10.2 million individuals will receive the sum of five thousand (5000) naira per month.