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FG Unveils ₦6 Billion Cash Transfer and Loan Program for Nigerians – See Who Qualifies

Enudi Golden by Enudi Golden
January 24, 2025
in business, Headline, LOAN & INVESTMENT, News, Npower
Reading Time: 2 mins read
FG Unveils ₦6 Billion Cash Transfer and Loan Program for Nigerians – See Who Qualifies
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FG Unveils ₦6 Billion Cash Transfer and Loan Program for Nigerians – See Who Qualifies

GoldenNewsNg reports that the Federal Government has unveiled details of its ₦6 billion initiative aimed at helping vulnerable Nigerians through cash transfers and interest-free loans. This program is designed to support households and farmers affected by natural disasters and crises.


Breakdown of Beneficiaries for FG Cash Transfers Starting February 2025

Here’s a simple breakdown of how the funds will be distributed and who will benefit:

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1. Cash Transfer Program

  • Approved Budget: ₦4 billion
  • Beneficiaries: 10 million displaced households
  • Purpose: To provide relief for families, especially in the Northeast affected by crises.
  • Duration: February to April 2025
  • Focus Groups:
    • Widows
    • Pregnant women
    • Women with disabilities

2. Interest-Free Loans for Farmers

  • Approved Budget: ₦2 billion
  • Loan Amount Per Household: Between ₦300,000 and ₦400,000
  • Beneficiaries: Farmers living in rural areas
  • Goal:
    • Boost food production
    • Encourage self-sufficiency among local farmers

Focus of the Program

The initiative is specifically aimed at:

  • Displaced women, including widows and pregnant women.
  • Families affected by crises or natural disasters.
  • Farmers in rural communities who need financial assistance to improve their productivity.

Goals and Strategy

  • Main Goal: Provide immediate relief while also promoting long-term support for vulnerable groups.
  • Strategy:
    • Collaboration between humanitarian and development agencies.
    • Integrating peacebuilding efforts to create lasting solutions.

This program is part of the Federal Government’s efforts to help struggling families and empower communities to rebuild and thrive.

 

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