Singapore is rolling out a major child support package worth nearly ₦94 million per eligible child. The move comes as the country faces a record-low birth rate.
Prime Minister Lawrence Wong announced the plan during his National Day Rally speech on August 23.
The government says the package will provide stronger support for families from birth through the teenage years.
The Singapore child support package will provide $62,000 in new benefits. When existing support is included, the total value will rise to about $70,000 per child.
Under the new plan, families will receive a $10,000 cash Baby Gift. Children will also receive $32,000 through Child Credits over their growing years.
The government will provide another $5,000 grant through the Child Development Account. Eligible families can receive up to $5,000 more through government matching.
A further $10,000 will be added to the child’s Post-Secondary Education Account at age 17. Newborns will also retain existing MediSave support and annual Edusave contributions.
Wong said the government wants to make family support easier for parents to understand. The new system will spread assistance across different stages of childhood.
The Baby Gift will be paid in two parts during the child’s first year. Child Credits will provide S$2,000 annually from age one until 16.
The Singapore child support package is expected to benefit over 610,000 children. It will cover about 380,000 households across the country.
The announcement comes as Singapore continues efforts to encourage more couples to have children. The government believes stronger family support can help address the country’s falling birth rate.
The new measures show Singapore is placing greater focus on long-term family support. They also represent a major expansion of assistance available to parents.
