Oyo State Launches Cash Transfer Program Benefitting 3,300 Vulnerable Households

 Oyo State Launches Cash Transfer Program Benefitting 3,300 Vulnerable Households

In a significant move to provide economic relief amid the ongoing COVID-19 pandemic, the Oyo State Government has announced its initiative to support over 3,300 households through the COVID-19 Action Recovery and Economic Stimulus program. The state’s Commissioner for Information and Orientation, Dotun Oyelade, shared this development in a statement released to PUNCH Online.

Seyi Makinde

The program is specifically designed to aid the poor and vulnerable residents of Oyo State, with the beneficiaries selected from diverse categories such as the elderly, chronically ill, physically challenged, urban poor, and widows. This inclusive approach encompasses all 33 Local Government Areas (LGAs) within the state.

Highlighting the backdrop of the initiative, Oyelade emphasized the adverse impacts of the global COVID-19 pandemic on citizens, particularly those in impoverished and vulnerable households, facing challenges such as loss of labor, income, food, and security.

Under the Social Transfer component of the program, selected beneficiaries will receive a monthly stipend of N10,000 for a year, providing crucial financial support. The card-based transfer system will facilitate bi-monthly disbursements, and the beneficiaries have been identified through data collected by the State Operation Coordinating Unit across all LGAs. The commencement of the N10,000 monthly cash transfer for the third phase is slated to begin following the completion of ongoing facilitator training.

Oyelade clarified that the OY-CARES program, originating as an emergency initiative from the Federal Government, has been adopted and implemented by the Oyo State Government. The program aims to alleviate the economic impact of the pandemic by supporting budgeted expenditures and interventions at the state level. It specifically targets both existing and new vulnerable households in the agricultural value chain, along with Micro and Small Enterprises affected by the economic challenges resulting from the COVID-19 pandemic.