The N8,000 cash transfer programme reflects Nigeria’s ambitious yet challenging journey to expand its social protection coverage. The initiative’s successes and shortcomings will undoubtedly shape the future of the country’s social safety net policies.
On 18 July 2023, the Bola Tinubu administration announced plans to disburse N8,000 to poor Nigerians following the removal of fuel subsidies and the floating of the naira. These measures have resulted in a marked increase in the cost of commodities, most significantly food, due to escalating transportation costs.
In an attempt to mitigate the economic strain, the Tinubu administration has sought an $800 million loan from the World Bank. While this may provide a temporary relief, how this funding will be allocated and the extent to which it can counteract the effects of the economic policy changes remains unclear. This loan from the onset is meant to fund Nigeria’s cash transfer programme...
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