The recent findings from the World Bank revealed that the Federal Government’s ₦5,000 cash transfer scheme had minimal impact on household expenditures and financial integration. World Bank’s report ‘Beta Don Come’ reveals minimal impact of cash transfers on household spending and financial integration.
The report emphasized that the program’s effect on employment, particularly for women, remained limited. It referred to the initiation of the cash transfer program in 2016, coinciding with the launch of the National Social Safety Nets Project (NASSP) by the federal government.
Under the program’s inception, households received a lump sum cash transfer of ₦5,000 every two months, primarily directed to the main caregiver in each household, predominantly women. Despite this assistance, the report highlighted the need for additional livelihood support to strengthen sustainable improvements in household self-sufficiency.
The report highlighted some improvements in various aspects of households’ and women’s well-being over time. It noted significant enhancements in household savings, food security, access to agricultural land, and ownership of livestock in communities that joined the program earlier. However, while the component focusing on savings mobilization showed positive results, the report indicated a lack of significant impact on overall household spending, employment of caregivers, and financial inclusion.
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