The World Bank has reported that the Federal Government’s N5,000 cash transfer initiative had minimal impact on household consumption and financial inclusion.
According to the World Bank’s latest report, titled ‘Beta Don Come: Effects of Cash Transfers on Women and Households in Nigeria,’ obtained by Channels Television, the intervention also had limited effects on employment, particularly for women.
The report referenced the 2016 cash transfer program launched under the National Social Safety Nets Project (NASSP), where households received N5,000 as a lump sum every two months.
Payments were primarily given to the primary caregivers, who were mostly women.
However, the report suggests that there’s a necessity for complementary livelihood support to ensure sustainable improvements in households’ self-sufficiency alongside the intervention.
“Program participation improved several dimensions of households’ and women’s welfare over time,” the report reads.
“Households in communities that entered the program earlier experience larger increases in household savings and food security, along with increased access to farmland and livestock ownership, compared to similar households in communities that entered the program later.
“We also find improvements in caregivers’ self-reported happiness, decision-making autonomy over how to spend their own income, and freedom of movement.
“Positive impacts appear to primarily result from the saving mobilisation component of the program.
“Households are substantially more likely to save the longer they have been receiving cash transfers and to switch away from exclusively using cash for household consumption.
“However, in contrast to these strong positive impacts, we do not find any statistically significant effects on overall household consumption or on caregivers’ employment and financial inclusion.”
The World Bank also said despite the efficacy of the CCT programme, there is no evidence of “the impacts of participating in the program at all”.
Also read: Speaker Abbas mourns Rep member, Dogonyaro’s death
“We find positive effects on households’ saving, food security, and economic activity along with increased caregivers’ decision-making autonomy and physical mobility associated with participating in the project for longer periods of time,” the report added.The Nigeria Navy has announced its intention to join a collaborative naval exercise, led by the United States Africa Command, US Africom, aimed at addressing the growing issue of sea piracy in the Gulf of Guinea, GoG.
Rear Adm. Samsom Bura, the Flag Officer Commanding Central Naval Command, revealed this during a press briefing aboard the naval warship, NNS Kada, in Onne, Rivers state.
Despite effectively combating sea piracy within Nigeria’s waters, the problem persists in neighboring GoG countries, prompting the Nigeria Navy’s participation in the joint effort.
According to Bura, the upcoming exercise named ‘Obangame Express 2024’ aims to enhance security in the GoG region and foster collaboration among navies within the regional block and allied nations.
“Exercise Obangame Express is an annual multinational maritime exercise initiated by US Africom under the auspices of the US Naval Forces Africa in the GoG.
“The exercise, commencing on May 10, will feature Nigeria and other countries from Africa, Europe and North America participating simultaneously, with the Republic of Gabon serving as the host country.
“The objectives include promoting regional cooperation, improving maritime security, and enhancing the capabilities of the participating navies.”
Bura explained that the Nigerian Navy would conduct the drill within Nigeria’s territorial waters and the GoG from May 10 to 17.
“The exercise will involve in-port training and at-sea scenarios like anti-piracy operations, gunnery exercises, visit board and search and seizure operations, and communication and information sharing among others.
“International and local partners, including a Spanish warship, representatives from the Federal Ministry of Justice, NIMASA, and members of the media, will participate in the exercise.
“The Nigeria Navy will deploy ships, aircraft, Special Boat Service teams (special forces), and maritime domain awareness facilities,” he added.
