The Presidency has reiterated President Bola Ahmed Tinubu’s unwavering commitment to fostering inclusive growth and implementing concrete measures to ease Nigeria’s economic hardship.
This reassurance follows a recent World Bank report showing that poverty levels remain deeply concerning despite rising government revenues and capital spending across federal and state levels. The Bank estimated that about 139 million Nigerians are currently living in poverty.
In a post on X, Special Adviser to the President on Media and Public Communication, Sunday Dare, outlined the administration’s ongoing economic recovery and social protection programmes aimed at improving citizens’ welfare.
According to him, the Tinubu administration remains firmly focused on improving household welfare through targeted, verifiable interventions to ensure that economic growth translates into tangible improvements in living standards.
He identified the Conditional Cash Transfer (CCT) as a key initiative, expanded to reach up to 15 million households nationwide. Over ₦297 billion has been disbursed since 2023 to support poor and vulnerable families, with beneficiaries enrolled through a verified digital process under the National Social Register.
Dare also highlighted the Renewed Hope Ward Development Programme (RH-WDEP) as a major initiative targeting all 8,809 electoral wards to deliver micro-infrastructure, livelihood support, and essential social services at the grassroots.
He noted that the government is consolidating the National Social Investment Programmes (NSIPs), including N-Power, GEEP micro-loans, and the Home-Grown School Feeding Programme, to protect jobs, empower small businesses, and ensure school attendance.
On food security, the Presidency stated that the administration is tackling inflation through subsidised distribution of grains and fertilisers, mechanisation partnerships, and the revitalisation of strategic food reserves.
Dare also mentioned the creation of the Renewed Hope Infrastructure Fund (RHIF) to finance critical energy, road, and housing projects aimed at reducing living costs and creating employment opportunities.
In addition, the National Credit Guarantee Company (NCGC) is expanding affordable credit access for small businesses, women, and youth through risk-sharing collaborations with financial institutions.
Acknowledging the challenges resulting from recent reforms, Dare described policies such as fuel subsidy removal and exchange rate unification as “necessary choices to tackle the root causes of poverty rather than its symptoms.”
He added that even the World Bank has recognised that these reforms are helping to restore macroeconomic stability and renewed growth momentum.
Reaffirming the administration’s priorities, Dare said the government is scaling up investments in agriculture, MSMEs, and power sectors through value chain expansion, gas-to-power projects, and skills development hubs aimed at boosting job creation and reducing living costs.
“As these programmes mature, Nigerians should begin to feel visible improvements in food prices, income, and purchasing power,” he said.
He further assured that the government is strengthening its social investment framework through a unified, data-driven system to promote transparency and accountability. This includes expanding the National Social Register and implementing the Renewed Hope Ward Development Programme to ensure that no vulnerable community is left behind.
“The reforms are necessary, the direction is right, and the foundation for a fairer and more prosperous Nigeria is being firmly laid,” Dare concluded.
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