The Federal Government, in alignment with the Sustainable Development Goals (SDG), is embarking on a comprehensive effort to alleviate poverty in Nigeria.
The Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu, has unveiled a strategy to remove 50 million people from poverty within the next 42 months and aims to lift a total of 133 million Nigerians out of poverty by 2030.
The announcement comes as a response to President Bola Tinubu’s directive during the three-day cabinet retreat for ministers, where ministers were required to sign Performance Agreements with the President.
Dr. Betta Edu, while addressing State House Correspondents, outlined the key elements of the poverty alleviation plan.
Notably, she said that the ongoing Conditional Cash Transfer program, which disburses N25,000 to vulnerable households in Nigeria for the next three months, is expected to positively impact the lives of approximately 61 million individuals or 15 million households.
She emphasized that a rigorous and traceable process has been put in place to ensure the right beneficiaries receive these funds. Adding that the verification through National Identity Numbers (NINs) and Bank Verification Numbers (BVNs) is a critical step to prevent fraudulent claims.
The ministry said that it will collaborate with the National Identity Management Commission (NIMC) to facilitate the registration of the very poor across the nation.
To avoid disbursing funds to non-existent beneficiaries, the government said that it will exclusively pay individuals with both NIN and BVN, verified through in-person and household verification.
Additionally, the Minister mentioned zero-interest loans designed to support petty traders, market women, and poor farmers. Adding that the collaborative initiatives like the End Hunger Project, the Code Nigeria Project, and other social safety net projects are expected to target millions of individuals, contributing to the goal of lifting 50 million people out of poverty within the next 42 months.
Dr. Betta Edu emphasized the importance of inter-ministerial cooperation to address the multifaceted nature of poverty in Nigeria.
She said that different sectors like healthcare, education, employment, and others are integral to this collaborative effort.
She added that clear deliverables and key performance indicators (KPIs) have been outlined to guide this collective mission.
The minister also shared the positive impact of the retreat, emphasizing its value in setting the government’s agenda.
She said that President Bola Tinubu is determined to lead the charge with the Renewed Hope Agenda, which aims to create jobs, ensure food security, eradicate poverty, improve governance, combat corruption, and uphold the rule of law.
Dr. Betta Edu expressed confident in the administration’s determination to achieve these goals and is calling on Nigerians to show patience, cooperation, and an understanding of government policies as they work towards a brighter future for the nation.