New research by the World Bank has revealed that the conditional cash transfer program of the Federal Government since 2016 has little effect on household consumption, financial inclusion or employment of beneficiaries, especially women.
The report noted that beyond the limited effect on household consumption, the program also did not quite impact women’s employment.
The global lender recommended a complimentary livelihood support intervention together with the cash transfer program.
Furthermore, the research by the Bretton Woods Institute stated that there was no statistical evidence to prove that the program encouraged financial inclusion.
Despite the problems with the cash transfer program, the research revealed some positives of the program which include: an increase in household savings and food security, and increased access to farmlands and livestock, among others.
The report also noted that beneficiary households were most likely to move away from expressly using their income for household consumption and save longer.
Furthermore, beneficiaries of the program reported improved autonomy in decision-making and freedom to move.
In 2016, the Federal Government of Nigeria, in collaboration with the World Bank, launched a social safety net program for the nation. The project is being implemented through the National Social Safety Nets Project (NASSP).