In a tribute to the 2023 International Day for Eradication of Poverty, President Bola Tinubu has revived the Cash Transfer scheme to lift 15 million households.
The programme launch Tuesday in Abuja will provide N25,000 to 15 million households for three months. This bold move serves as a vital Social Safety Net intervention, not only to cushion the impact of recent fuel subsidy removal but also a means to eradicate poverty on a global scale.
President Tinubu’s unwavering commitment to annihilate poverty in Nigeria resonates with his pioneering “Renewed Hope Agenda,” where he has set Poverty Eradication, Food Security, Economic Growth, and Job Creation as his top priorities.
This historic launch, which occurred at the State House Presidential Villa in Abuja, was carried out by Senator George Akume, the Secretary to the Government of the Federation, on behalf of the President.
These, according to the president, include providing a robust policy framework and road map for an aggressive poverty alleviation campaign, developing the “Renewed Hope Agenda” for humanitarian response and poverty alleviation, and broadening the National Social Register to encompass all Nigerians living below the international poverty line of one dollar and ninety-five cents per day.
Other steps, the President announced, are restructuring of the National Social Investment Programme and repositioning it for quick and efficient delivery that is transparent and accountable; partnering with the World Bank 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 President’s resolute vision extends even further with a commitment of 100 billion Naira to procure 3,000 units of 20-seater Compressed Natural Gas powered buses, aimed at making transportation more afaffordable.
Also listed is additional investment of N200 billion to be injected into cultivating 500,000 hectares of farmland to fortify food security; the release of 2,000 metric tons of grains to households across the country; distribution of 225,000 metric tons of fertilizer and seedlings to dedicated farmers working toward national food security.
Moreover, the President has earmarked 75 billion Naira to support 100,000 Small and Medium-sized Enterprises and start-ups;Â the “Renewed Hope Shelter Programme” and providing Business Grants and Loans for the Poor, Refugees & internally Displaced Persons targeted at one million households.
Government also promised Business Grants & Loans for Vulnerable market women, farmers, and traders to expand their enterprises. This transformative initiative is set to benefit two million beneficiaries, and it complements an array of interventions from various ministries through a multi-sectoral approach.
President Tinubu’s actions are poised to spark a profound transformation, providing renewed hope for millions and fortifying the nation’s path towards a brighter future.
As the 2023 International Day for the Eradication of Poverty reverberates with its theme, “Decent Work and Social Protection: Putting Dignity in Practice for All,” President Tinubu underscores the profound alignment of this theme with his transformative “Renewed Hope Agenda.”
“My government will lead the way in ensuring that all Nigerians are granted the opportunity for dignified work and enduring social protection,” he promised.
Minister for Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu urged stakeholders, including the private sector and development partners to rally behind Nigeria’s resolute drive to eliminate poverty.
She emphasized that the Tinubu administration is steadfast in its commitment to breathe new hope into the lives of the poor and vulnerable, aligning seamlessly with the Sustainable Development Goals, SDG, target.
“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 inline with the SDG target.
“President Bola Ahmed Tinubu would not relent until vulnerable Nigerians are completely pulled out of poverty by 2030,” she said.
Conditional Cash Transfers, according to Dr. Edu, emerged as a proven pathway to poverty alleviation. These transfers empower households to initiate micro and small enterprises, access basic healthcare, secure food, keep their children in school, and address immediate household needs.
She emphasized that the meticulous verification process for the National Social Register ensures transparency and traceability in the disbursement of funds to beneficiaries, who hail from every corner of the nation.
The commitment extends beyond cash transfers, as the government vows to provide low-cost shelter for the poor and internally displaced persons. A spectrum of interventions, including the rural vocational skills program, will unfold nationwide to tackle the multifaceted dimensions of poverty in the country, promising a brighter future for Nigerians.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun said the scheme will rely on bio metric auditing system to guarantee the efficient and accountable distribution of funds. This ensures that the true beneficiaries receive their deserved support, subsequently contributing to the economy’s positive transformation, he explained.
“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 is been done in a transparent manner that is traceable and verifiable,” said the minister.
World Bank Country Director, Shubham Chaudhuri praised the program, pledging ongoing support. Chaudhuri acknowledged the courage of Nigeria’s President in removing the fuel subsidy, with optimism that the benefits will far outweigh the initial discomfort.
On the ground, visible transformations are already taking place, with beneficiaries like Lanai Sulaiman, Shuaibu Hassana, Sarki Bala Gamu, Okoro Jonah, and Hamed Kosemani Isiaka receiving instant fund transfers and expressing gratitude for the government’s visionary initiative.
In attendance at the event were key figures, including the United Nations Resident and Humanitarian Coordinator for Nigeria, Matthias Schmale, Senate and House Representatives Committee Chairmen on Poverty Alleviation, Permanent Secretaries, Directors, Program Coordinators, and an assembly of top government functionaries. The stage is set for Nigeria’s resolute journey to eliminate poverty, restoring hope and dignity for all.
