The monarch gave the commendation on Thursday at the flag off of the electronic payment system by NCTP in Agbonle area of Oyo State.
Agbonle is located in Saki East Local Government Area of Oyo State.
Jolaade, who is the Iba of Agbonleland, said that the efforts of the Federal Government in alleviating the sufferings of the poor and vulnerable were laudable.
He called on state and local governments to support the scheme, saying this would further increase the reach and target of the initiative.
Some of the beneficiaries of NCTP in separate interviews described the programme as one which would go a long way in boosting their businesses and alleviating their sufferings.
Aishat Kehinde, a food vendor, stated that she would invest the money in her business, pledging to ensure it was judiciously utilised.
Kehinde, who lauded the Federal Government for the monthly stipend, urged government to consider increasing the sum.
Paulina and Monday Ocaachie, both farmers, promised to invest part of the stipend in their farming business as well as pay their children’s school fees.
They lauded the Federal Government for fulfilling the promise to alleviate their sufferings, pledging their continuous support for the Muhammadu Buhari administration.
Mrs Ayishat Lasisi, who has been a beneficiary since 2016, told newsmen that she had used the monthly stipend to buy 10 rams.
Lasisi, who resides in Eleja Village of Oyo West Local Government of the state, said 14 participants had engaged in monthly contribution with the stipend.
She said that her own share of the monthly contribution was what she used in buying the rams to be used for commercial purpose.
NAN reports that the pilot scheme of the electronic cash transfer system was test run in Agbonle community by the consultants.