Tinubu Unveils $3.05bn Poverty Reduction, Human Capital Programmes

Tinubu Unveils $3.05bn Poverty Reduction, Human Capital Programmes
Tinubu said the programmes were designed to protect vulnerable Nigerians
Tinubu disclosed that NG-CARES would receive $1.25 billion in additional financing from the World Bank to support smallholder farmers and small businesses

President Bola Tinubu has unveiled five major social and development programmes valued at $3.05 billion to accelerate poverty reduction, strengthen community resilience and boost investments in healthcare, education and human capital across Nigeria.

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Eko Hot Blog reports that Tinubu, represented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, launched the programmes on Thursday at the Presidential Villa, Abuja.

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

Describing the initiatives as a fulfilment of his administration’s promises, Tinubu said the programmes were designed to protect vulnerable Nigerians, empower communities and build the human capital needed to drive national development.

According to the President, the programmes form a unified national strategy to translate recent macroeconomic gains into improved livelihoods through investments in agriculture, healthcare, education, social protection and support for internally displaced persons.

Tinubu disclosed that NG-CARES would receive $1.25 billion in additional financing from the World Bank to support smallholder farmers and small businesses, while SOLID would deploy $300 million to assist internally displaced persons and host communities.

He added that the $1.5 billion HOPE package would strengthen primary healthcare, foundational education, teacher development and governance reforms across the country’s public education sector.

The President said recent economic reforms had laid the foundation for inclusive growth, citing rising foreign reserves, declining inflation and improved economic performance.

He also revealed that the Federal Government’s expanded cash transfer programme had reached 15 million vulnerable households.

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Tinubu urged federal, state and local governments, development partners and implementing agencies to ensure transparency and accountability in implementing the programmes.

Minister of Budget and Economic Planning, Senator Atiku Bagudu, described the interventions as a whole-of-government response to poverty, the cost-of-living crisis and human capital challenges.

The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, said the $570 million HOPE-PHC programme would improve primary healthcare services for about 40 million Nigerians, particularly women, children and adolescents.

Minister of Education, Dr. Tunji Alausa, said the $562 million HOPE-EDU programme would benefit nearly 30 million pupils, support 500,000 teachers and strengthen 65,000 public schools nationwide.

The World Bank Country Director for Nigeria, Matthew Verghis, reaffirmed the institution’s support for reforms aimed at improving education, healthcare and social protection, while the Nigeria Governors’ Forum and the National Assembly pledged their support for the successful implementation of the programmes.