Buhari says Nigeria can defeat poverty the same way India did.
President Muhammadu Buhari has inaugurated the National Steering Committee (NSC) of the National Poverty Reduction with Growth Strategy (NPRGS), chaired by Vice President Yemi Osinbajo.
Nigeria is home to the highest population of people living in extreme poverty in the world since it first overtook India in 2018.
The Federal Executive Council (FEC) two months ago approved the NPRGS to accelerate the reduction in poverty through economic growth, redistributive programs, and shared prosperity.
While inaugurating the steering committee in Abuja on Tuesday, June 22, 2021, President Buhari expressed his commitment towards lifting 100 million Nigerians out of poverty in 10 years, a promise he first made two years ago.
On the second-year anniversary of that promise on June 12, the president claimed he has lifted 10.5 million Nigerians out of poverty despite independent surveys showing more Nigerians are sinking into poverty.
He said on Tuesday that the NPRGS will lay the foundation for a sustainable poverty reduction through the wide range of consultations held at all critical levels.
The strategy is designed to deal with the multi-dimensional nature of poverty, according to the president who said Nigeria can defeat poverty the same way India did.
"If India can lift 271 million people out of poverty between 2006 and 2016, Nigeria can surely lift 100 million out of poverty in 10 years.
"Fortunately, we have already started but we need to unlock the challenges of slow implementation, inappropriate targeting and absence of adequate resources," he said.
Osinbajo said the NPRGS would consolidate other efforts of the government to reduce poverty, with the collaboration of everyone reflected in its framework and implementation.
The strategy has already proposed the establishment of a private equity fund, the Nigeria Investment and Growth Fund (NIG-Fund), to lead resource mobilisation drive, and also manage the resources in a sustainable manner.
Other members of the steering committee are Secretary to the Government of the Federation, Boss Mustapha; Chief of Staff to the President, Ibrahim Gambari; Ekiti State governor, Kayode Fayemi; Delta State governor, Ifeanyi Okowa; Sokoto State governor, Aminu Tambuwal; Borno State governor, Babagana Zulum; Nasarawa State governor, Abdullahi Sule; and Ebonyi State, Dave Umahi.
Others are Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of State for Budget and National Planning, Clem Agba; Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq; Minister of Agriculture and Rural Development, Sabo Nanono; Minister of Industry, Trade and Investments, Adeniyi Adebayo; Minister of Labour and Employment, Chris Ngige; Minister of Education, Adamu Adamu; and Minister of Health, Osagie Ehanire.
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