A new research by the World Bank has revealed that the conditional cash transfer of the Federal Government since 2016 has led to 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.
It further said beneficiaries of the programme reported improved autonomy in decision-making and freedom to move.
It stated, “We also find improvements in caregivers’ self-reported happiness, decision-making autonomy over how to spend their own income, and freedom of movement.
“Households are substantially more likely to save the longer they have been receiving cash transfers and to switch away from exclusively using the cash for household consumption”
The research, however, said the programme had little effect on household consumption, financial inclusion or employment of beneficiaries, especially women.
It pointed out that beyond the limited effect on household consumption, it also did not quite impact women’s employment.
The World Bank research also observed the absence of statistical evidence to prove that the programme encouraged financial inclusion.
“Nonetheless, the limited impacts on household consumption and women’s employment suggest that there is remaining scope for a complementary livelihood support intervention to generate sustainable improvements in households’ self-sufficiency,” it added.
The World Bank, therefore, recommended a complimentary livelihood support intervention together with the cash transfer programme.
