The Vice President,
Prof. Yemi Osinbajo, said this on Tuesday in Abuja while inaugurating the COVID-19 Rapid Response Registration (RRR) Cash Transfer Project. According to him, the project is a national initiative to build a shock responsive framework for capturing and registering the urban poor and vulnerable populations across Nigeria. Osinbajo said that the new register complements the already existing platforms under the World Bank supported National Social Safety nets Project (NASSP). As of December 31, 2020, we have identified and registered about 24.3 million poor and vulnerable individuals into the National Social Register; equivalent to about 5.7 million households. Through this project, we are currently injecting about N10 billion directly into the hands of about two million poor and vulnerable households every month.
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1m Nigerians to benefit from COVID-19 Cash Transfer Osinbajo
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No fewer than One million Nigerians are to benefit from the Federal Government’s COVID-19 Cash Transfer Project which aims to lift the urban poor affected by the pandemic out of poverty.
The Vice President, Prof. Yemi Osinbajo, said this on Tuesday in Abuja while inaugurating the COVID-19 Rapid Response Registration (RRR) Cash Transfer Project.
According to him, the project is a national initiative to build a shock responsive framework for capturing and registering the urban poor and vulnerable populations across Nigeria.
Osinbajo said that the new register complements the already existing platforms under the World Bank supported National Social Safety nets Project (NASSP).
Apart from the COVID-19 pandemic and the lockdown, the EndSARS protest was another bane for the MSME sector that was attempting to recover later in the year.
The Lagos Chamber of Commerce and Industry (LCCI) this week said the restrictions being placed by some states due to the rising second wave of the pandemic and the lockdown enforced months ago by the government cost the MSMEs in Lagos N2.7 billion revenue.
The LCCI Director-General, Dr Muda Yusuf highlighted the major challenges faced by the business community in the outgoing year as, liquidity crisis in the foreign exchange market, sharp exchange rate depreciation, high energy and production cost.
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