The President was represented at the event by the Secretary to the Government of the Federation, George Akume.
Prominent figures in attendance included the Minister of Humanitarian Affairs and Poverty Eradication, Betta Edu; Minister of Finance, Wale Edun; World Bank Country Director, Shubham Chaudhuri; and the United Nations Resident and Humanitarian Coordinator for Nigeria, Matthias Schmale, among other esteemed dignitaries.
In his Independence Day address to the nation on October 1, 2023, the President unveiled a cash transfer program designed to aid vulnerable citizens with the aim of supporting 15 million households, which, as stated by the Minister of Humanitarian Affairs, equates to 62 million Nigerians.
Under this program, each beneficiary will receive a monthly transfer of N25,000 for three consecutive months, totaling N75,000 per beneficiary. The Minister also revealed that a forthcoming scheme, named 'Iya Loja Funds,' is set to be launched, offering soft loans of N50,000 to assist petty traders.
Furthermore, with the commencement of the next farming season, farmers will receive incentives to enhance their agricultural productivity. Shubham Chaudhuri, the Country Director of the World Bank, pledged the organization's support for this ambitious scheme.
In order to ensure the efficient and accountable distribution of funds to beneficiaries, the Finance Minister laid emphasis on the use of a biometric auditing system.
