Ending Extreme Poverty Will Define My Presidency, Tinubu Declares

Ending Extreme Poverty Will Define My Presidency, Tinubu Declares
Launches $3bn Poverty Reduction Programmes
The President acknowledged growing confidence in the nation’s economy following recent reforms but stressed that economic gains must improve the lives of ordinary Nigerians

President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to eliminating extreme poverty, saying the success of his government’s economic reforms will be measured by the number of Nigerians lifted out of poverty.

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Eko Hot Blog reports that the President made the declaration through the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the launch of three major intervention programmes in Lagos aimed at boosting jobs, agriculture, healthcare, education and community resilience.

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The programmes include the Nigeria Community Action for Resilience and Economic Stimulus Additional Financing (NG-CARES), the Solutions for Internally Displaced and Host Communities (SOLID) Programme, and the Human Capital Opportunities for Prosperity and Equity (HOPE) Programme.

Together, the initiatives represent more than $3 billion in coordinated investments targeted at supporting smallholder farmers, small and medium enterprises (SMEs), internally displaced persons and improving access to primary healthcare, education and grassroots governance.

In his keynote address, Tinubu described the initiatives as a fulfilment of the promises made under the Renewed Hope Agenda.

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“These are not just programmes; they are promises kept. Under the Renewed Hope Agenda, we came into office pledging to reform our economy, secure the nation and invest in our people. Today, we act on that pledge by protecting the vulnerable, empowering communities and building the human capital that will carry Nigeria forward,” he said.

The President acknowledged growing confidence in the nation’s economy following recent reforms but stressed that economic gains must improve the lives of ordinary Nigerians.

“Real prosperity means no Nigerian is left behind on our journey to a one trillion US dollar economy by 2030,” he added.

Tinubu said the Renewed Hope Development Plan (2026–2030) would drive the government’s poverty reduction strategy through economic diversification, human capital development and stronger institutions at the sub-national level.

According to him, Nigeria recorded 11.2 per cent real GDP growth and nearly 10 per cent per capita income growth in dollar terms last year, while foreign reserves have exceeded $40 billion and inflation has continued to decline from its 2024 peak.

He also disclosed that the Federal Government’s expanded cash transfer programme has reached 15 million vulnerable households, with an estimated 7.5 million Nigerians already lifted out of poverty.

Providing details of the intervention programmes, the government said the NG-CARES Additional Financing is a $1.25 billion World Bank-supported initiative designed to improve the productivity and resilience of smallholder farmers and small businesses.

The SOLID Programme, valued at $300 million, will focus on providing infrastructure, livelihoods and essential services for internally displaced persons and their host communities.

The HOPE Programme, a $1.5 billion investment, comprises three components: HOPE-GOV for ward-level governance, HOPE-PHC for primary healthcare and HOPE-EDU for education, with the goal of improving learning outcomes, strengthening healthcare delivery and enhancing local governance.

Tinubu described the programmes as a coordinated national strategy for poverty reduction, human capital development and community resilience, adding that their ward-based implementation would strengthen collaboration among the federal, state and local governments.

He also commended the Ministries of Budget and Economic Planning, Education, and Health and Social Welfare for their contributions to the development of the initiatives.

The President urged state governments, development partners and implementing agencies to ensure the successful implementation of the programmes.

“We’re building a Nigeria where extreme poverty is banished, where every child has access to quality education and healthcare, and where every community can withstand adversity and recover faster and stronger. That is our vision. That is our promise,” he said.