Home News FG To Pull Vulnerable Nigerians Out Of Poverty By 2030, Invests N375...

FG To Pull Vulnerable Nigerians Out Of Poverty By 2030, Invests N375 billion On Some Interventions

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President Bola Tinubu

President Bola Tinubu’s led Federal Government, has declared it’s readiness to pull vulnerable Nigerians  completely out of poverty by 2030 just as the disbursement of N25,000 to 15 million households in the country has commenced.

As part of the strategic plan put in place, President Tinubu has already announced the investment of over N375 billion into some of the various intervention programmes his administration has taken to ameliorate poverty in the country. 

This was contained in a press release on Wednesday by the Special Adviser on Media and Publicity to the Minister for Humanitarian Affairs and Poverty Alleviation, Rasheed Olanrewaju Zubair, saying President Tinubu’s determination to eradicate poverty in Nigeria is in line with his Renewed Hope Agenda, which has Poverty Eradication, Food security, Economic growth, and Job creation as priorities.

In commemoration of the 2023 International Day for Eradication of Poverty, the president launched the disbursement of N25,000 to 15 million households in the country and  will be for three months as a Social Safety Net intervention to mitigate the impact of the recent fuel subsidy removal and as a proven means of eradicating poverty globally

Speaking during the launch of the programme, the President who was represented at the ceremony by the Secretary to the Government of the Federation, Senator George Akume at the State House Presidential Villa, Abuja, enumerated various steps his administration has taken to ameliorate poverty in the country and these include the investment of N100 billion to purchase 3000 units of 20-seater Compressed Natural Gas (CNG) powered buses for cheaper transportation.

The SGF, Senator George Akume (3rd from L), the Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu (5th from L), other top dignitaries and some of the beneficiaries.

Investment of N200 billion to cultivate 500,000 hectares of farmland to improve food security and the release of N 75 billion to support 100,000 Small and Medium Enterprises (SMEs) and start-ups.

Others, according to the president, include providing the policy framework and road map for an aggressive poverty alleviation drive in Nigeria, developing the Renewed Hope Agenda for humanitarian response and poverty alleviation, and expanding the National Social Register to capture Nigerians living below one dollar ninety-five cents per day.

Restructuring the National Social Investment Programme and repositioning it for quick and efficient delivery that is transparent and accountable as well as partnering with the World Bank Group and other development partners to implement Conditional Cash Transfers, business grants, and other forms of support for the most vulnerable households in the country.

The release of 2000 metric tons of grains from the strategic grain reserves to households across the 36 States and the Federal Capital Territory. 

The distribution of 225,000 metric tons of fertilizer and seedlings to farmers committed to the nation’s food security.

Renewed Hope Shelter Programme for the Poor, Refugees & Internally Displaced Persons targeted at one million households.

Renewed Hope Business Grants & Loans for Vulnerable Market women, farmers, and traders to expand their business (GEEP) targeted at two million beneficiaries among other interventions from various ministries through a multi-sectoral approach.

With the theme of the commemoration of the 2023 edition of International Day for the Eradication of Poverty, “Decent Work and Social Protection: Putting Dignity in Practice for All”; President Tinubu said it was no doubt in perfect alignment with the Renewed Hope Agenda of his government.

A cross section of some officials and beneficiaries at the ceremony.

He added, “my government will lead from the front in seeking to ensure that all Nigerians have decent opportunities for dignified work and sustained social protection.”

In her opening remarks, the Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, said there is a call to action for all stakeholders including the private sector development partners and other nations to support Nigeria in its aggressive drive to eliminate poverty.

“The cardinal goal of President Bola Ahmed Tinubu’s administration is to give the poor and vulnerable Nigerians a new breath of hope which is also in line with the Sustainable Development Goals (SDGs) target.”

“President Bola Ahmed Tinubu would not relent until vulnerable Nigerians are completely pulled out of poverty by 2030” as an aggressive poverty alleviation long-term interventions are on the way, she said.

According to Dr. Edu, Conditional Cash Transfers is a proven way to alleviate poverty as they give household the financial support to start micro and small enterprises, provide basic health care, and food, keep their children in school, and attend to the immediate needs of the households.

She said, “Mr. President during the October 1st National Broadcast announced this intervention, we have gone through a thorough rigorous process of verification for the National Social Register, giving us the Lead way to begin payments. The beneficiaries are drawn from across all states in the country plus FCT and are been done in a transparent manner that is traceable and verifiable.”

“Beyond this, the government will be providing low-cost shelter for the poor and internally displaced persons as a form of providing that cover for them. Several other interventions, including the rural vocational skills Intervention, will be carried out at a country-wide scale. All of these are targeted at the various dimensions of poverty in the country”.

Dr. Edu who commended President Tinubu for adding poverty alleviation as a key thematic area of her Ministry, describing it as a first of its kind in the country, assured that many more impact-driven poverty alleviation programmes are set to be deployed for the betterment of the living conditions of Nigerians.

On his part, the Minister of Finance and Coordinating Minister of Economy, Wale Edun, said a biometric auditing system has been introduced to ensure efficiency and accountability in the disbursement of the funds to all beneficiaries across the country.

Doing this according to the Minister, will ensure that those who are the target beneficiaries of the funds are the true recipients. He stated that the economy will be positively affected by the conditional cash transfer. The Ministry of Finance has a coordinating role for this intervention for the economy.

The Country Director of the World Bank in Nigeria, Shubham Chaudhuri, said the bank will continue to support what he described as a ‘laudable program’.

Chaudhuri commended the political will of Nigeria’s President in removing the fuel subsidy, saying the pain will be for a short time after which Nigerians will begin to benefit from the thought-good policy.

He assured that the World Bank will continue to Partner with the Federal Government to provide succor to the  Nigerians, especially the poor and vulnerable citizens.

Some of the beneficiaries who received instant fund transfers into their wallet at the venue of the launch, include the visibly poor Lanai Sulaiman, Shuaibu Hassana, Sarki Bala Gamu, Okoro Jonah, and Hamed Kosemani Isiaka. They all confirmed the receipt of the funds and commended the Federal Government for the initiative.

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