I Believe In The Efficacy Of The Conditional Cash Transfer Initiatives – Tinubu

President Bola Ahmed Tinubu has said he is steadfast in his belief in the efficacy of his government’s Conditional Cash Transfer initiatives.

President Tinubu said the cash programmes of N25,000 to 15 million households for three months which was launched in 2015 are effective and can address the level of poverty in the country if properly implemented.

In an interview with The Nation, Tinubu said the cash initiatives are a crucial part of his government’s strategy to target and provide relief to the most vulnerable segments of the population.

According to Tinubu, the cash transfer initiatives are not just about providing temporary support, but strategically delivering assistance when it’s needed most.

He said: “I am steadfast in my belief in the efficacy of our cash transfer initiatives. These initiatives are a crucial part of our strategy to target and provide relief to the most vulnerable segments of our population, especially during the last three months of the year when the prices of basic items typically rise. This is not just about providing temporary support; it’s about strategically delivering assistance when it’s needed most.

“We continue to work closely with all key stakeholders – including state governments, civil society groups, international partners, and private sector entities like telcos and fintechs – to refine these programs. Moreover, we urge all Nigerians to be mindful of the current economic situation and avoid exploiting it for abnormal profits.

”In addition to these cash transfers, our administration is deeply committed to empowering micro, small, and medium-sized enterprises, along with nano businesses. Significant financial support is being directed to these enterprises to foster human capital development, economic growth, and financial inclusion.

“For instance, through the Ministry of Communications, Innovation and Digital Economy, we launched the 3MTT programme, aiming to develop technical talent across Nigeria in fields such as software engineering and cloud computing. This program is designed not just to aid businesses but also to enable our youth to participate in the global gig economy, earning competitive wages while contributing to our nation’s growth.”

The president stated that the interventions, which go beyond cash handouts, are about creating a sustainable environment where Nigerians can innovate and thrive.

He added: “Our interventions extend beyond what some may call ‘cash handouts’. They are about creating a sustainable environment where Nigerians can innovate and thrive.

“By focusing on sectors like digital and creative industries, we are fostering growth and job creation, harmonizing efforts between monetary and fiscal bodies to build a stronger, more resilient Nigeria.”