The government recently started a program to give N25000 to 15 million homes. On October 27, 2023, the government decided to give money to more people. Read this news to know who is added.
In a bid to cushion the effects of the recent fuel subsidy removal on Nigerians, the federal government has announced that pensioners under the Defined Benefit Scheme (DBS) will be included as beneficiaries in the N25,000 conditional cash transfer program.
This decision was revealed in a statement by the Corporate Communications unit of the Pension Transitional Administration Directorate (PTAD), which noted that the decision was made following a meeting between PTAD, the Nigeria Union of Pensioners (NUP), pension union executives, and pension desk officers of PTAD’s pension department in October 2023.
The statement reads, “The Pension Transitional Administration Directorate (PTAD) and the Nigeria Union of Pensioners (NUP) during an interactive session with stakeholders including the Nigeria Pension Commission (PenCom), Pension Union Executives, and Pension desk officers of the parastatals pension department on Wednesday October 18, 2023 clarified that pensioners under the Defined Benefit Scheme (DBS) are part of the priority groups to benefit from the just approved N25,000 Conditional Cash Transfer (CCT).”
The Director of the Civil Service Pension Department (CSPD), Mr. Sulayman, also confirmed in the statement that PTAD, in partnership with the NUP, has captured and verified the data of all DBS pensioners and submitted it to the Ministry of Humanitarian Affairs and Poverty Alleviation.
He stated, “He further explained that PTAD in collaboration with the NUP made sure that the data of all DBS pensioners who have been verified and are on the payroll has been promptly submitted to the Ministry of Humanitarian Affairs and Poverty Alleviation through the Nigeria Union of Pensioners (NUP).”
The Ministry of Humanitarian Affairs will be responsible for handling the transfer of the funds to the pensioners.
What is the Conditional Cash Transfer (CCT) program?
The Conditional Cash Transfer (CCT) program is a social safety net program that provides cash transfers to poor and vulnerable households on the condition that they meet certain criteria, such as enrolling their children in school and attending regular health check-ups.
The program was first introduced in Nigeria in 2003, and it has since been expanded to reach millions of households across the country.
Why are pensioners being included in the CCT program?
The federal government has stated that pensioners are being included in the CCT program as part of its efforts to cushion the effects of the recent fuel subsidy removal on Nigerians.
The removal of the fuel subsidy has led to an increase in the price of petrol, which has put a strain on the finances of many households, including pensioners.
The CCT program is expected to help pensioners meet their basic needs and cope with the rising cost of living.
How will pensioners receive the N25,000 cash transfer?
The Ministry of Humanitarian Affairs has not yet announced how pensioners will receive the N25,000 cash transfer. However, it is likely that the funds will be transferred directly to the pensioners’ bank accounts.
Pensioners are advised to contact their pension administrators or the Ministry of Humanitarian Affairs for more information on how to receive the cash transfer.
The inclusion of pensioners in the CCT program is a welcome development. It is a recognition of the fact that pensioners are a vulnerable group that is likely to be disproportionately affected by the fuel subsidy removal.
The N25,000 cash transfer will help pensioners to meet their basic needs and cope with the rising cost of living.
It is hoped that the federal government will continue to provide support to pensioners and other vulnerable groups in the wake of the fuel subsidy removal.