Tag: Poverty

  • World Bank to Buhari: Poverty increasing in Nigeria under your watch

    World Bank to Buhari: Poverty increasing in Nigeria under your watch

    Contrary to President Muhammadu Buhari claim that over 10 million Nigerians have been pulled out of poverty, the World Bank has come out with figures which show that poverty, accentuated by the pandemic, is increasing in Nigeria, with 11 million more people joining the rank of the poor.

    Presenting its six-monthly update on development in Nigeria, the organisation noted that although Nigerian economic growth has resumed after the COVID shock, it is lagging behind the rest of sub-Saharan Africa.

    The report underscored food inflation, heightened insecurity and stalled reforms as the drivers of the increasing poverty,

    The bank estimated a GDP growth forecast for Nigeria of 1.9% in 2021 and 2.1% in 2022, compared with 3.4% this year and 4.0% next year for sub-Saharan Africa.

    Lead economist for Nigeria Marco Hernandez said inflation, especially in food prices, was exacerbating poverty and food insecurity.

    Food accounted for almost 70% of Nigeria’s total increase in inflation over the past year.

    He said the COVID-induced crisis was expected to push over 11 million Nigerians into poverty by 2022, taking the total number of people classified as poor in the country to over 100 million.

    The total population is estimated at 200 million.

    He said it was expected that between 2020 and 2022 there would be a decrease of about 13 per cent in per capita income in comparison with what would have been a situation without COVID-19.

    The World Bank expects the Nigerian inflation rate in 2021 to be 16.5%. The forecast for sub-Saharan Africa, excluding Nigeria, is 5.9%.

    The World Bank expects the Nigerian inflation rate in 2021 to be 16.5%. The forecast for sub-Saharan Africa, excluding Nigeria, is 5.9%.

    Hernandez said increased insecurity across the nation — ranging from mass abductions at schools, kidnappings for ransom, armed conflict between herdsmen and farmers, armed robberies and various insurgencies — was a drag on growth and job creation.

    He said it was critical for the government to maintain reform momentum, but that some important reforms had stalled.

    He cited petrol subsidies, which have recently returned after the government had established a market-based pricing mechanism, and electricity tariff reform, an area where planned adjustments to bring prices in line with costs have been paused.

    Hernandez said Nigeria had the largest number of people without access to electricity in the world, and that electricity subsidies benefited mainly richer households.

    Only 22% of the poorest households have access to electricity, while 82% of the richest are able to access power.

    Shubham Chaudhuri, World Bank Country Director for Nigeria said
    sustaining reform momentum in Nigeria is critical to ensuring robust economic recovery beyond 2021.

    Chaudhuri said though Nigeria was at a critical juncture, it had so much potential which had not been realised.

    He added that with the COVID-19 crisis and the pressures on the economy, the pressures on society had been heightened.

    He also said that Nigeria faced interlinked challenges in relation to inflation, limited job opportunities and insecurity.

    “While the government has made efforts to reduce the effect of these by advancing long-delayed policy reforms, it is clear that these reforms will have to be sustained and deepened for Nigeria to realise its development potential.”

    He said the over N100 billion a month that goes into petrol subsidy mostly benefits the rich.

    He, however, said that a fraction could be used as cash transfers to support the poor at a time of rising prices or be geared towards primary health care or basic education.

    “So that is part of the restructuring or policy reforms in a number of areas.

    “What should the Federal Government be doing, what should the sub-national governments be doing and most importantly, what government should not be doing,” he said.

    He also said that inflation reduced the purchasing power of Nigerians and had been increasing not only constantly and at a very fast pace, but since August 2019 when the borders were closed.

    Hernandez, however, said that as the crisis has had a profound effect on Nigerians, it also had been a wake-up call.

    “We want to commend the government for events in a series of very bold and inaudible reforms that have been stalling for many years.

    “That includes the doctrine of economic sustainability plan that plans a series of reforms over the coming years, greater transparency in old revenues and improved budgeting practices.”

    He said that given the urgency to reduce inflation amidst the pandemic, a policy consensus and expedite reform implementation on certain areas should be considered.

    He added that exchange-rate management, monetary policy, trade policy, fiscal policy and social protection would help save lives, protect livelihoods and ensure faster and sustained recovery.

    At the panel discussion, Mr Clem Agba, Minister of State for Budget and National Planning, gave reasons why some of the reforms like the removal of petroleum subsidy were suspended.

    According to him, it is because the government is looking for alternatives to ensure that when the programmes continue, Nigerians do not suffer.

    “To follow up with these reforms, we are working on the strategic revenue initiatives and we are beginning to see some improvements in revenue.

    ” I dare say that the country is no longer so much of a mono dependent economy because of the reforms that are ongoing.

    “In the past, oil used to be the main driver of the economy in terms of revenues, oils was giving us about 70 per cent of revenue and about 90 per cent of foreign exchange.

    “Today oil is only contributing about 45 per cent while non-oil sector is contributing about 55 per cent.”

    He appealed to Nigerians to understand that the reforms were necessary to achieve the desired growth.

  • Nigeria must conquer extreme poverty, inequality before it overruns us – Rotimi Amaechi

    Nigeria must conquer extreme poverty, inequality before it overruns us – Rotimi Amaechi

    …says poverty speaks same dialect across the country

    …says to tackle it we must free out urban based policies

    By Emman Ovuakporie

    Minister of Transportation, Hon Rotimi Amaechi has said Nigeria must as a matter of urgency conquer poverty, inequality before it overruns the country.

    TheNewsGuru.com, (TNG) reports Amaechi in his lecture commemorating University of Nigeria Nsukka convocation ceremony on June 12.

    The former Governor of Rivers State citing global and local empirical facts said the poverty rate in Nigeria is becoming so massive that Nigeria needs to shift its urban based policies immediately to tackle the situation.

    Hear Him:”there are areas that we must address if we hope to overcome our frightening inequality and poverty.

    ” We must free our policies from an urban based focus. The poorest urban Nigerian is many times better off than the most well off rural Nigerian. “Therefore, we need to emulate the Chinese and Indian examples in focusing on the rural majority if we must end the increasing marginalization of our rural compatriots. Our current land title and tenure systems have continued to consign our rural land owners to peasant holders of acres of farmland without commercial value.

    “We need to reform our land title system by removing encumbrances on rural land titles so that rural farmers can use such land to access credit from the banks and credit unions.

    “The digital revolution in the world offers us a unique opportunity to use technology to reduce poverty and inequality. Through the Apps on our cell phones, a psychological inequality has been attacked. We should now use those very Apps to transact business between the urban and the rural domains, to transfer funds, administer credit and fire aspirations.

     

    Read full text below:

    I am deeply honoured to have been invited to deliver this year’s convocation lecture at this most renowned citadel of learning, culture and research. Mr. Vice Chancellor, I thank you specifically for deeming it appropriate to ask me to wade through the usual dividing lines between government, town and gown to address this august gathering.

    On this occasion, I am wearing many caps. I am a minister of the federal government of Nigeria, a servant of the government and people of Nigeria. I am also an avid lover of learning and knowledge, a voracious consumer of books when an overcrowded schedule makes it possible. I cannot forget that i am the product of a remarkable Nigerian university, the University of Port Harcourt. I am currently enrolled as a student of some universities where I study part time subject to the limitations of time and convenience. If you add the on- the -job training and learning that I am currently receiving in the area of rails and railways, you can imagine how involved I am in the world of learning.

    It is this combination of interests in the world of learning and knowledge that emboldened me to accept the invitation of the Vice Chancellor to share my thoughts on the subject of this lecture with this distinguished audience.

    The moment of graduation holds special meaning for both the graduands and their parents. For those graduating, it is the fulfillment of a set of hopes, the completion of one leg of a race in life and the beginning of yet another lap. The world outside the university campus holds infinite possibilities and surprises. It is different from what you have on campus. It is real and sometimes shocking. But it holds the invaluable treasure of experience without which we cannot face life.

    I hope you all find it an exciting ride especially in our time and place. In a world of dwindling opportunities and immense challenges, I urge you to embrace the realities with courage and determination. Above all, you require all the creativity to convert every challenge to an opportunity.

    To the parents and guardians, I congratulate you also for escorting these young ones through one of life’s critical gateways. What you have given your offspring and wards is a rare privilege in a world of unequal opportunities. A university degree in every society remains a prized gift for the minority who are blessed to have the parents and guardians who can afford to give it. As you witness this ceremony, I urge you to share with fortitude the challenges that these younger ones will have to face in the years ahead.

    2. UNN: A Place Founded on Dignity:

    Because of the circumstances of its founding, the name and founding philosophy of UNN marked it out as a leading national centre of premium excellence. By its name, the University of Nigeria assumed a position of unique leadership from inception. As it were, other major Nigerian universities, including the few older ones, initially needed to define themselves to the outside world in relation to UNN. They needed to prove that they were not offshoots or branches of the University of Nigeria. The assumption then was that Nigeria had only one umbrella university with multiple branches!

    From the onset, therefore, this university was founded on the noble ideals of nationalism, national unity and the promise of national greatness. I am made to understand that for a long time, whenever graduates of this university interacted with graduates from other first generation universities in the country, there was always a contest of superiority or primacy. While the Nsukka graduates boasted jovially that they are graduates of the only university in Nigeria while seeing the others as products of provincial or personal centres, the others would rebel and accuse the Nsukka graduates of undue arrogance and an appropriating mentality.

    Let me register my protest as one of those who rebel against the tyranny and arrogance of pioneer universities like the University of Nigeria. I am a proud product of a third generation Nigerian university, a very innovative and adventurous centre of learning and cutting edge research in the humanities, social sciences and oil related studies. I am a product of the University of Port Harcourt where I took my first degree in Literature in English. I have constantly held my own as someone who received first rate humanities education under some of the finest literary and humanities scholars that our nation has produced. In fact, one value of the type of humanities education I received prepared me for the various roles I have had to play in public life. It is a multidisciplinary exposure which prepared one to be an all rounder equipped to solve social problems in a balanced way. So, I am not one of those likely to be drowned or intimidated by the pioneering status or the overbearing and presumptive nomenclature of the University of Nigeria.

    Now that we have a whole gamut of federal, state, private, specialized and purely commercial universities on an industrial scale, I assume that the ego wars must have died down. The University of Nigeria and its graduates can happily take their front row seat and bask in their pioneering status. Nsukka graduates can justifiably celebrate the dignity and tradition that age confers on universities if nothing else. But in a competitive world in which the frontiers of learning continue to expand exponentially, no institution can relax in its past glory. Innovation and rapid technological advancement make institutional complacency a luxury.

    3. A Matter of Dignity:

    In the ranking of universities, tradition counts for a great deal. The tradition of any university is usually the consolidation of its founding philosophy into a guiding inspiration and enabling mantra. This is what guides the university’s research, teaching and general academic direction over time. Successive generations of staff and students come to imbibe this tradition in their interactions and academic endeavours. It becomes the driving force of their pride in the institution through which they pass. Thus, Harvard, Yale, MIT, Oxford and Cambridge are not just fancy names. They are traditions rooted in history and founding philosophies.

    The Great Zik of Africa who founded this university was not a man to be lost in the quest for tradition and enabling philosophy. His love for knowledge and tradition knew no bounds. Therefore, from the onset, he powered this institution with an enabling philosophy which is embodied in its moto. It simply states that the overriding objective of this institution shall be: ‘To Restore the Dignity of Man”. Set against the nationalist struggle against colonialism and its informing racism, this was a heavy mandate for a university. But Dr. Azikiwe was first and foremost a man of infinite love for learning. In his generation, time and place in African history, knowledge and education were perhaps the most important means of validating the dignity and humanity of the black man. The black man (and woman!) owed it to his race and to humanity to prove beyond reasonable doubt that he had the ability to acquire the highest level of knowledge possible.

    Zik was confident that beyond amancipating himself from slavery and colonialism, the black man had a valid civilization and a worthy contribution to make to the march of human civilization. No where else would the impact of such contribution be felt than in the world of learnig and the pursuit of knowledge through cutting edge teaching and research. That single attribute was all that was required to disprove the supremacist assumptions of racism and colonialism. From inception therefore, the great Zik of Africa endowed this university with a civilizing and liberationist ideology and mission.

    As it were, the acquisition of western education and learning in all disciplines and the pursuit of excellence for the African mind were the pre-requisites for the restoration of the dignity of the African man which centuries of slave trade, colonialism and imperialism had denigrated. That, in my understanding, is one of the reasons why we are gathered here today.

    4. Changing Challenges to Human Dignity:

    For me and for the purpose of this lecture, the operative word is ‘dignity’. The dignity of man (and woman) would be the sum total of all that makes us human as distinct from beasts. The dignity of man can be degraded by so many factors beyond the classic categories of racism, colonialism, deliberate denigration and enslavement.

    It is now centuries since the formal end of the slave trade. It has also been decades since the last African colonies secured political independence to become sovereign nations. It is true that we still have the vestiges of imperialism and economic dependence as burdens in today’s world. Racism is still alive and well. Black peoples and the rest of the world still have cause to mount worldwide protests that proclaim: BLACK LIVES MATTER. That cry is a defiant reassertion of a dignity that still continues to be trodden upon.

    Increasingly, however, even the most avid racists are now a bit reluctant to display their prejudices openly. In fact, after the official police lynching of George Floyd in the streets of Minneapolis and in the era of “Black Lives Matter”, it has become fashionable for known racist individuals and corporations to make a show of ‘not’ being racist! Product labels have been hurriedly changed. Huge corporations have begun to review their racial quotas for employment and career advancement. That is some progress on the matter of restoring the dignity of the black man at least.

    Interestingly, the word has come to the rude awakening that every act of indignity against black people is a further degradation of the dignity of the racists themselves. Racism is no longer just a blithe on those discriminated against but more a devaluation of the dignity and humanity of the racist as well. The wheel has come full cycle. This is why every major sporting tournament in the world is now preceded by the symbolic taking of the knee to show our common solidarity in the campaign against racism and all forms of discrimination. That is how far humanity has come on the matter of human dignity. There are still many treacherous rivers to cross.

    5. The Faces of Indignity:

    We now live in a world where a variety of factors have arisen that constantly reduce the dignity of our common humanity. The tribe of humanity that is in desperate want of dignity in one way or the other now traverses national, continental, racial, ethnic and geographical boundaries. Among the factors that today afflict our dignity as humans, we can now count poverty, inequality, wars and their ravages, Climate change, environmental degradation, the digital divide, diseases, pandemics and access to medical care, poor governance, terrorism and general insecurity. Man caught in any of these catastrophes can easily lose his dignity. So, we are in a time and place where human dignity s constantly assaulted from every direction. The battle to restore the dignity of man is now universal.

    Wherever any of these afflictions confront humanity, the dignity of man is degraded. I am prepared to argue that those who are not sure where the next meal will come from have no dignity left. Similarly, that army of humanity that has been reduced to canon fodder by the contest of power among nations and factions of power have no dignity left. Those who blow up their fellow humans and those who are blown up in terrorist upheaval have neither humanity nor dignity.

    India may be a front line technological nation but its recent experience of massive Covid-19 infections degraded the humanity of the Indian person to the extent that literally every open space became a crematorium for disposing of the remains of victims that were dying on an industrial scale. In Yemen and the Tigray region of Ethiopia, the ravages of war have reduced humanity to the helpless level of bestial existence. In the United States at the height of the Covid ravages in places like New York, the morgues were full and refrigerated trucks became emergency morgues holding thousands of corpses of those who could not be buried by frightened relations and family.

    In the Sahel region of Africa, a desperate climate change challenge has reduced millions of humanity to scraggy existence in a hostile desert environment to live undignified lives. In Nigeria’s insecure villages and towns, we are witnessing the dignity of womanhood defiled and assaulted by unwashed casual rapists and agents of violence. The examples of loss of dignity by the forces of present day challenge can be multiplied indefinitely.

    6. The Challenge of Global Inequality:

    In today’s world, one of the greatest challenges that cuts across all national barriers is that of mass poverty and the corresponding inequality. Even within the international community, we are all witnesses to the increasing inequality among nations. While the few developed economies and nations of the East and West can afford most of the indices of decent living for the majority of their citizens, majority of the nations of the world especially in Africa are saddled with economies that cannot survive without piles of debt and polities that cannot exist without aid.

    But I am constrained by my topic to dwell on poverty and the concomitant inequality and how both of them constitute the most dire and urgent challenge to the dignity of man in Africa especially Nigeria.

    In recent years, Nigeria has become the home of one of the largest populations of poor people in the world. In recent parlance, some have referred to Nigeria as the new “poverty capital of the world”. With an estimated poor population of over 100 million people, our national poverty rate is 50% of the total population and still growing.

    This is not exactly a flattering statistic. The causes are many and varied but all come down to a mismatch between resources and demographic trends. No one can deny the serial lack of management of our resources by successive administrations. Equally, to be blamed is our continuing over dependence on oil rents and royalties as the mainstay of our economic survival.

    Consequently, the resource base of the federal government has continued to come under increasing severe pressure with the attendant devaluation in extent and quality of basic social services and the major indices of human development. The population of the country has grown exponentially from 55.98 million in 1970 to over 201 million in 2019 and about 210 million today. Similarly, our per capita per head has grown from $224 in 1970 to $2,149 today but the purchasing power of the current higher figure is less than what the smaller figure could buy in 1970. Only an average of 20% of Nigeria’s 1970 population could be regarded as poor while over 50% to 60% of today’s population is poor. Poverty today is defined by the World Bank and other multi lateral financial institutions as people living on less than $2 a day.

    With a very young population, Nigerians aged under 45 constitute an estimated 38% of the total population. Since 1970, Nigeria has continued to depend on oil and gas royalties for 95% of its foreign exchange revenue. With a very low level of foreign direct investment inflow and a declining manufacturing capacity in recent years, the economy has been unable to generate employment at a rate to cope with the demographic increase and the pace of production of skilled manpower and educated people especially the teeming youth population.

    A youth bulge has resulted in stratospheric unemployment figures while secondary and tertiary institutions have increased exponentially and continue to spew out unemployed youth onto the streets of decaying urban centres.

    Inequality has produced an anarchic population as life has become a scramble and a hustle among the many. Poverty induced criminality has sent crime statistics through the roof nationwide resulting in the culture of perennial insecurity that now haunts the nation. A resource poor treasury has led to considerable decay in the capacity of the state to equip the armed and security forces adequately to contain an upsurge in crime and militant nationalism and regionalism. Our hospitals and healthcare delivery system is in desperate disrepair just as our public infrastructure has continued to decay by the years.

    Given this multi dimensional decline in the revenue capacity of the state, there is no wonder we have such a heavy burden of poverty and inequality to contend with.

    7. Tackling Poverty and Inequality:

    The prevalence of poverty has been recognized as one of the greatest threats to our national unity and national security. In my mind, I see the poverty burden as the greatest threat to the restoration of the dignity of the Nigerian person. Poverty has become a leveler and a unifier even in a time of political and ethnic fundamentalism and divisiveness. Come to think of it, there is no discrimination between the poor man or woman in Maiduguri and the one in Port Harcourt; between the poor woman in Yenagoa and their opposite number in Sokoto. They all speak the same dialect of the Nigerian language. They are hungry, homeless and sometimes hopeless.

    I have repeatedly said that poverty is an issue about which I do not need to be lectured by anyone. I grew up in the inner city of Diobu in Port Harcourt. I know about a crowded home with a whole family living in a modest apartment. I know the pangs of hunger when the little available has to be shared among many siblings. I know the uncertainty of a future where school fees may not be paid on time. I know of the misery of a Christmas that could pass without new clothes or gifts from parents not because they love you any less.

    I have a personal conviction that of all the challenges facing our nation’s actualization, none is more urgent than the scourge of increasing poverty and the threat of massive inequality. Nigeria must attack and conquer extreme poverty and inequality or the poor will overrun the rest of Nigeria.

    Let us take the threat of mass poverty seriously and elevate inequality to the status of a perennial national emergency in the years ahead. Nearly all the troubles that confront us as a nation can be traced to either direct poverty or the fear that the ogre of poverty could rise one day to devour the fortunes of the rich and prosperous.

    Perhaps the reduction of desperate poverty should be the first step in fostering genuine national unity in the years ahead. Only then will most Nigerians speak the same language and understand each other better. Left alone in their present poor and hopeless state, people will tear each other apart and feed on each other’s entrails in an endless war over nothing in particular.

    Yet, let us not allow politics and partisan power play blind us to the origins and causes of our poverty travail. For the avoidance of doubt, let me state that the desperate poverty that we have today has its roots in dispensations that came before the Buhari administration. Specifically, our epidemic of mass poverty dates back to the return of civil rule in our country. It is unfair to heap the responsibility for the prevalence of poverty and inequality on this or any one administration in the history of the country.

    The Buhari administration has correctly identified increasing poverty and

    inequality as one of the major impediments to national development. The President has committed himself and the administration to migrating at least 10 million Nigerians from abject poverty in the shortest possible time. I believe that the various ongoing social welfare schemes of the administration will ensure the achievement of this objective and that successor administrations will take on the mantle of poverty reduction as a cardinal objective of state policy.

    As we speak, the Buhari administration has embarked on a cocktail of measures targeted at reducing desperate poverty among the most vulnerable segments of our populace. These include the various Direct Cash Transfer Schemes, micro credit Trader Money, the School Feeding Programme, the Small to Media Enterprises credit scheme, the various Agricultural Credit Schemes and Anchor Borrowers Schemes. It is hoped that these schemes will over time converge to reduce the magnitude and demographics of the poor in our midst.

    Previous government efforts have also contributed significantly in reducing poverty over the years. These include the Community Banks,

    Rural Banking and Rural Branch Network, Directorate of Employment,,NERFUND, Directorate for Roads and Rural Infrastructure. Mass Transit Programme, Keke NAPEP Programme etc.

    In spite of some of these bold schemes, however, the burden of poverty in Nigeria continues to weigh heavily on the nation. It is either that these schemes are not well thought out or the magnitude of resources committed to them is too meager to make any significant impact.

    8. Global Perspectives:

    For the avoidance of doubt, I need to point out that Nigeria is not alone in being confronted by the burden of poverty and inequality. Other nations have confronted the problem with remarkable results that should inspire us. Let me therefore point out the strides which three countries in identical circumstances as Nigeria have made in the battle against poverty in recent years: China, India and Brazil. I single out these countries because until recently, they were in identical socio economic circumstances as Nigeria. They all used to be Third World countries with huge poor populations and struggling economies.

    China:

    The achievement of the Chinese in poverty reduction has been equated with a modern day miracle. According to the World Bank, a total of 850 million people have been lifted out of poverty in China in the last 20 years. The poverty rate fell from 88% in 1981 to 0.7% in 2015. This is poverty as measured by the percentage of people living on $1.90 or less per day by 2011 purchasing power parity terms. This translates into an average poverty reduction rate of 42 million people per annum. In total, the Chinese have reduced their poverty rate by over 60% of the population in 20 years.

    The achievement corresponded with a period of sustained economic growth. It adopted the strategy of focusing on the poorest people in the rural areas. It massively moved them from poor homes in the countryside to apartment blocks in urban areas. This is similar to the strategy adopted by the late Lee Kuan Yew, Prime Minister of Singapore, in tackling poverty among the slum dwellers of Singapore. This led to rapid urban renewal and the uplifting of the standards of hygiene and living among the former slum dwellers with a corresponding economic empowerment. They could now leverage the market value of their new apartment homes to raise capital for their enterprises and improvement of their living standards. By last year, the poverty rate among the Chinese had further declined to near zero.

    The Chinese achieved this feat through a combination of measures and factors. The adoption of a market economy and increased economic activity have been key factors. This was joined by an increase in the banked population as well as improvements in the stock market and an astronomical growth in foreign investments in the Chinese economy.

    Gigantic strides in technology especially Information Technology has energized this humongous population into a unified manufacturing hub and common market with its eyes set on the rest of the world. This is how an economic behemoth and the world’s second strongest economy was born. Therefore the kind of inequality that threatens national security and threatens the very existence of the nation does not exist in today’s China.

    India:

    According to UN reports, in 10 years (2006-2016) , India has lifted a record 273 million of its population out of poverty. This has been achieved through a series of rural development programmes targeted at poverty alleviation in the rural areas as a priority. By targeting the rural areas, the Indian strategy resembles the Chinese one in general but is distinct in being based on specific programmes. There are four basic schemes in the Indian mode.

    First, there is the Rural Livelihood Mission(NRLM) which

    guarantees the rural poor access to finance to increase household incomes, entitlement to rights, increased access to participation in the national economy through participating in banking and insurance services. It also incorporates participation in micro credit schemes for rural based small ventures.

    Secondly, there is the Mahatma Ghandhi Rural Employment Guarantee Act 2005 which is designed to guarantee the livelihood of rural people. It is an employment guarantee scheme that assures individuals of a minimum of 100 days minimum wage employment. It is extended to rural families whose adult male members volunteer to do unskilled work in return for the guaranteed wage. It is an employment guarantee scheme tailored to ensure that the rural poor can loo forward to paid employment if need be.

    Thirdly, there is the Rural Housing Guarantee Scheme designed to providing housing for all by the year 2022. It guarantees the rural poor access to permanent housing with electricity, LPG connections, pipe borne water and toilet facilities under an affordable mortgage arrangement that is both simple and affordable.

    Finally, there is the Public Distribution System which aims to manage food distribution and reduce the scarcity of essential food items to rural dwellers at affordable prices. It is designed to address the problem of food insecurity in the rural areas.

    This combination of policies and strategies has assured India of a modest poverty reduction rate of 13.65 million people per annum in the last twenty years. Of course India still has a huge poor population but it has laid down a framework for sustainable poverty reduction.

    Brazil:

    The poverty reduction strategy of Brazil is guided by a desire to improve the incomes of those at the bottom of the economic pyramid at a rate faster than those of people at the top and also faster than the rate of GDP growth. The result is that Brazil has been able in the last two decades to reduce both poverty and inequality simultaneously.

    Between 2003 and 2009, 21 million people have escaped poverty. The Brazil National Institute of Applied Economic Research says that the country’s Poverty Incidence Rate declined from 35.8% to 21.4% between 2001 and 2009, a period during which the country’s Gini Index (which measures rate of inequality) dropped by 9%, the lowest since the 1970s.

    Some major policy initiatives led to Brazil’s success in this regard.

    First is the Bolsa Familia (Family Scholarship) which provides family income support for families whose per capita monthly income is less than $47. In return, families must ensure that they vaccinate their children, attend routine health programmes, and ensure they keep their children in school. Compliance with these requirements is what assures people of continued participation and benefit from the programme. This has helped in uplifting health standards as well as education participation among the poorest segments of the Brazilian population. This has been complemented by radical reforms in education that aim at expanding the level of education among less privileged Brazilians.

    9. The Road Ahead:

    From the foregoing perspectives from other major countries, some facts are clear and inalienable. Government must confront inequality through conscious well thought, sustained and sustainable policies. Such policies must be informed by the realities of the Nigerian situation which I daresay remain unique and peculiar.

    In summary, there are areas that we must address if we hope to overcome our frightening inequality and poverty. We must free our policies from an urban based focus. The poorest urban Nigerian is many times better off than the most well off rural Nigerian. Therefore, we need to emulate the Chinese and Indian examples in focusing on the rural majority if we must end the increasing marginalization of our rural compatriots. Our current land title and tenure systems have continued to consign our rural land owners to peasant holders of acres of farmland without commercial value. We need to reform our land title system by removing encumbrances on rural land titles so that rural farmers can use such land to access credit from the banks and credit unions.

    The digital revolution in the world offers us a unique opportunity to use technology to reduce poverty and inequality. Through the Apps on our cell phones, a psychological inequality has been attacked. We should now use those very Apps to transact business between the urban and the rural domains, to transfer funds, administer credit and fire aspirations.

    10. Conclusion:

    In all of it, politics and leadership has roles well cut out. There cannot be genuine democracy in a society divided by unequal access to the good things of life. The only possibility in that horizon is anarchy which currently stares us in the face as rival mobs and their lead thugs now scramble for primacy on how to divide the country into tribal republics and personal estates. The democratic state must rise to the occasion by taking on the challenge of fighting poverty and inequality as a matter of urgent priority. The survival of the state and its very security are implicated in that necessary fight.

    A poverty riddled state with unequal access to the good life is the image of the Hobbesian state of nature where man has no dignity and hope is a mirage. In that place, life is short, brutish and nasty.

    Mr. Vice Chancellor, Distinguished Ladies and Gentlemen, I thank you all for the privilege of your audience.

    God bless the Federal Republic of Nigeria.

    Chibuike Rotimi Amaechi

    June 12th, 2021

  • Poverty, illiteracy responsible for insurgency in Nigeria – Borno State Governor

    Poverty, illiteracy responsible for insurgency in Nigeria – Borno State Governor

    Governor Babagana Zulum of Borno State has identified poverty and illiteracy as some of the factors responsible for insurgency in the country.

    Zulum stated this on Friday, in Abuja, at the signing of a Memorandum of Understanding (MoU) between the Nasarawa State Government and Flour Mills Nigeria (FMN).

    The MoU by the two parties was for the establishment of a sugar company in Toto Local Government Area (LGA) of the State.

    In his goodwill message to Gov. Abdullahi Sule of Nasarawa State, Zulum said the governor should insist that majority of workers at the company must be indigenes of the state.

    He said that the establishment of the company would create jobs and stimulate the economy that would support the state and the nation.

    The Borno governor identified endemic poverty, illiteracy, high inequality and environmental degradation as some of the root causes of insurgency.

    “I am, therefore, advising Gov. Sule to establish strong institutional arrangements that would ensure the sustainability of the agreement.

    “Many at times in Nigeria, programmes do not last long due to poor institutional arrangements for implementation.

    “It is my sincere prayer that the Flour Mills Nigeria will take into consideration the plight of the indigenes of Nasarawa State, first in terms of local content development and recruitment,” Zulum stated.

    He explained that considering the plight of the indigenes of the State was key to guaranteeing security and smooth operations of the company in Nasarawa.

    Zulum added that under no circumstances should the governor allow the FMN to recruit people contrary to the terms of agreement, noting that the company’s failure to partner with the indigenes could trigger the kind of security challenges occurring in other parts of the country to be witnessed in Nasarawa.

    He disclosed that his State would also partner with the FMN soon on an investment opportunity for the overall development of the State.

  • Giving unemployed Nigerians N10-N20k for two months cannot take them from poverty, Senate tells Buhari’s minister

    Giving unemployed Nigerians N10-N20k for two months cannot take them from poverty, Senate tells Buhari’s minister

    The Senate Committee on Special Duties, on Thursday, asked the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Umar Farouq, to explain how N32.4billion allocated to her Ministry for palliatives meant to cushion the effect of the COVID-19 pandemic was being spent.

    Farouq however explained to the senate committee that only N2.4billion out of the N32.4billion allocated for palliatives has been released to the Ministry.

    She said that the Ministry is presently engaged with the Ministry of Finance to get the balance N30billion released.

    The exchange between members of the Senate Committee and the Minister took place at an interactive session organised for the purpose by the panel.

    Senator Mohammed Ali Ndume and Senator Biobarakuma Degi-Eremienyo had asked the minister about the impact of the palliatives distribution on the lives of poor Nigerians.

    Ndume said even though the Ministry is doing its best, what it has been doing was not enough to properly cater for the poor and vulnerable in the country.

    Ndume said: “You are not doing enough as far as poverty eradication in the country is concerned.

    “The modus operandi being adopted by your Ministry cannot in anyway help in fixing the country.

    “Humanitarian intervention should be looked at more holistically.”

    Senator Degi Eremienyo, said the palliatives given to some Nigerians by the Ministry, cannot in anyway, take them out of poverty.

    “Giving unemployed people N10, 000.00 or even N20, 000.00 for a month or two, cannot take them out of the poverty.

    “The handouts should be channelled into creation of employment for the unemployed,”Degi-Eremienyo said.

    The Chairman of the Committee, Senator Yusuf Abubakar Yusuf, intervened by telling the members of the Committee that the interactive session was not on poverty eradication but on interventions made by the Ministry from the N32.4billion allocated to it for COVID-19 palliatives.

    Farouq said only N2.4billion has so far been released to the Ministry from the N32.4billion allocation.

    She said part of the N2.4billion was expended on school feeding during the lockdown and direct cash transfers made to vulnerable Nigerians across the 36 States of the Federation and the Federal Capital Territory ( FCT).

    On how she fed school children at home during the lockdown, Farouq said: “We drove to some of their homes based on addresses gathered from their Schools and also adopted the template of the United Nations of six persons per family and three children in a home.”

    She explained further that besides feeding of school children at home, other interventions such as 33,000 tonnes of rice were distributed to vulnerable Nigerians across the 36 states of the Federation.

  • FEC approves national poverty reduction strategy

    FEC approves national poverty reduction strategy

    The Federal Executive Council (FEC) has approved the National Poverty Reduction with Growth Strategy (NPRGS) put together by the Presidential Economic Advisory Council (PEAC).

    Special Adviser to President Muhammadu Buhari on Media and Publicity, Femi Adesina, disclosed this to State House Correspondents on Wednesday.

    According to Adesina, the Steering Committee on NPRGS would be headed by Vice President Yemi Osinbajo, who will provide overall guidance for implementation.

    He said council also approved implementation of the Strategy and its incorporation into the Medium Term National Development Plan 2021-2025 and the Agenda 2050.

    FEC also directed the Attorney General of the Federation and Minister of Justice, Abubakar Malami, to prepare a bill for submission to National Assembly, to make the implementation of the strategy sustainable.

  • Marginalization, poverty, religious and ethnic conflicts fuels youth restiveness, says Yahya

    Marginalization, poverty, religious and ethnic conflicts fuels youth restiveness, says Yahya

     

    By Debo Oladimeji

    The Resident Representative, United Nations Development Program (UNDP), Mr. Mohammed Yahya, and panelist at this year Bola Tinubu Colloquium has said that geographical location which consists of preexisting marginalization, poverty, religious and ethnic conflicts has contributed to violent extremism by youth.

    Speaking on the theme of this year Bola Tinubu Colloquium “Our Common Bond, Our Common Wealth: The Imperative of National Cohesion and Prosperity” to mark the 69th Birthday of His Excellency, Asiwaju Ahmed Tinubu in Kano he reiterated that an in-depth research work on ‘Violent Extremism by Youths’ which he and his team had done with a scope of six African countries, Nigeria included, has shown that three factors contributed mostly to it:

    “Firstly, geographical location which consists of preexisting marginalization, poverty, religious and ethnic conflicts. Secondly, a significant proportion of the extremists do not have a secular and religious education. Lastly, it is a personal process majorly influenced by community (family, friends, or religious figures).

    “ Aligned to these reasons are more of government actions such as abuse, unemployment, and others.”

    He emphasized that the story of violent extremism is a story of exclusion, while the consequence of extremism is an intolerable waste of talent.

    Mr. Yahaya provided some solutions to these problems which included seeing education, both religious as a safety net of the country.

    He added that Nigeria must strive to raise people out of poverty; make it a top agenda.

    He went on to proffer strategies for post conflict recovery and national growth which were that everybody should have a stake in the development process where opportunities equally exist to support development.

    “Conflict is a response to our society; conflict is a bases for development, thus solving conflicts further improves the society.”

    Prof. Funmi Olonisakin a Professor of Security, Leadership and Development at King’s College London stated that great thought should be given to the specificities of subnational entities. “Also, a national culture should be developed to give everyone a sense of belonging.”

    She encouraged Nigeria to have some introspection to properly interrogate the ‘Zones of Silence’ that have characterized our national entity; the voices that are not heard or represented.

    According to her violence is a core part of a conversable space.

    “Protests should be paid rapt attention so as to find sustainable peace. Entertainment industry could be a powerful tool to promoting peace as a building block and should be harnessed.”

    Speaking from the angle of investments key indicators, Ms. Amaka Anku, the Practice Head, African Eurasia Group, stated that key indicators for investments involves, domestic investment confidence; communications and production of ideas; and tax mobilization and revenue. These factors have to be boosted to attract foreign investments into the country.

    Representative of the voice of young Nigerians, Ms. Nimdir Charity Nansoh, Founder/CEO, HoP Africa, Jos, Plateau State, said that the Nigerian youths must be perceived as important stakeholders to national development.

    She added that youths are an unavoidable index for measuring polices. She also canvassed a revisiting of the CONFAB resolutions so as to annex the strengths of various regions.

    Brief congratulatory remarks were given by the Governor of Lagos State, Babajide Sanwo-Olu on the remarkable person of H.E Asiwaju Bola Ahmed Tinubu, who happens to also be a former Governor of Lagos State. Another son of Lagos State in the person of Hon. Femi Gbajabiamila, the Speaker of the House of Representatives, took the opportunity to inform Nigerians about the dogged commitment to developments that the celebrant posses which could cause him to have little to no sleep.

    The Governor of Yobe State and Caretaker Chairman of the All Progressive Congress (APC), H.E, Mai Mala Buni on behalf of the organisers thanked everyone who had made it to celebrate H.E Asiwaju Bola Ahmed Tinubu. He also specially thanked the Presidency for all their support to the Colloquium.

    The man of the moment, popularly referred to as the ‘Jagaban of Africa’, who Celebrated his 69th Birthday on this day took the stage triumphantly to present his thoughts from this year’s insightful colloquium. This was only after he appreciated the many celebratory gestures and sacrifices made by everyone present physically and virtually on his birthday.

    He further stated that Nigeria requires a workable unity that reconstructs and recreates the economy. He lauded the countries capital projects progressing all over the country, he encouraged the leaders to not be deterred by the ones who try to discourage them from these great infrastructural strides.

    However, he advocated for more localization of industries which could create job opportunities. More job opportunities starve violent extremists’ recruiters more Nigerian youths. Finally, he reiterated the opinions that the social media space should be harnessed as an important communication tool.

    This 12th Bola Tinubu Colloquium established beyond reasonable doubts that the emergence of a new Nigeria championed by a new tribe of men, women, boys and girls with a common bond revealing our common wealth is absolutely possible through deliberate ideas-oriented actions and conversations across board.

    To discuss multiple dimensions of conflict on nation building and national growth, the 12th Bola Ahmed Tinubu colloquium had as a part of its panel, Dr. George Manneh Weah, the only African to win the highest individual player award in football in 1995 where he was named African, European, and World Player of the Year. He currently serves as the 25th President of Liberia and interestingly, was born 1st of October, 1966.

    It also had His Excellency, Dr. Ernest Bai Koroma, Former President of the Republic of Sierra Leone, Her Excellency, Madam Finda Koroma, Vice President of the ECOWAS Commission, Mr. Mohamed Yahya, the Resident Representative, United Nations Development Program (UNDP), Prof. Funmi Olonisakin, Professor of Security, Leadership and Development at King’s College London, Ms. Amaka Anku, Practice Head, Africa Eurasia Group Washington DC and Ms. Nimdir Nansoh, Founder/CEO, HoP Africa, Jos, Plateau State.

    Also in attendance were the Senate President, Speaker of the House of Representatives, Secretary to the Government of the Federation, Governors of Lagos, Yobe, Osun, Ogun, Ekiti, and members of the National Assembly, Leaders of International Organisations and, other distinguished guests.

    Bola Tinubu Colloquium was initiated in 2009 as an intervention that provides a unique platform to discuss current pertinent issues influencing Nigeria’s political and economic outlook. This is done as part of the events celebrating His Excellency, Asiwaju Bola Ahmed Tinubu’s birthday.

  • I was born in Ajegunle, we were poor- Basketmouth

    I was born in Ajegunle, we were poor- Basketmouth

    Ace comedian, actor and filmmaker, Bright Okpocha a.k.a Basketmouth has recounted that he was born into poverty.

    The revered entertainer said what kept him going was his family, adding that he started playing the drums and keyboard at a tender age.

    He made this revelation in a chat with media personality, Joey Akan.

    “ I was born in Ajegunle, right? We were poor . Let me use that word. We were very poor. And the process, the journey, like if I tell you how it started – and what kept me going, it wasn’t because of the generation. It was for myself. It was for my family. What made me realise that look, you need to get out of yourself. I was doing comedy back then. I was playing the drums, I was playing the keyboard back then. I was famous when I was like 14 years old as per “the drummer boy.” That kid that plays the drum. I was on top of the bottom, so to speak”.

    Asked what is most important to him, he said:” My name, my brand. That’s what’s most important. Yes, it’s the only thing I have. My identity is what people would know me for. Let me break it down. The name Basketmouth was a name that I decided to go by. The content of Basketmouth is what I created. Then I said ‘what name should we go with?’ And someone by chance called me ‘Basketmouth,’ after a gig. ‘O boy, you get basket mouth o.’ And I was like, that’s a good name. Do you know what? This fits my character. It defines me properly. But then again, Basketmouth is not my name. My name is Bright Okpocha. Do you get? And that’s my identity. That’s what’s on my passport. And that’s the reason why..I was young when I picked Basketmouth. But if you look through time, I started mentioning Bright Okpocha and then the titles started coming in — Eze Gburugburu and all those things.

    Now, I want a situation whereby when you hear that name, what comes to your mind are the great things that I did. Which is the reason why, when I see my people going on social media to do certain things, I’m like, ‘are you not worried about your identity? Because these are things they’d bully your kids with. These are tools they would use against your kids. So me protecting my identity, is protecting my kids. Protecting myself, my family and protecting my peace of mind.

    So what’s most important is my name. My brand name. So how do I make that brand name valued and respected? They are the things that I put out there”.

     

  • More than two terms required to undo Buhari’s rot – Dele Sobowale

    More than two terms required to undo Buhari’s rot – Dele Sobowale

    By Dele Sobowale

    Next President Will Spend Tenure Fixing rot created by Buhari.”

    Governor Nyesom Wike, February 3, 2021.

    Late Prince Tony Momoh got me involved with Buhari’s campaign for President in 2010 when he was Chairman of the Congress for Progressive Change, CPC. A tireless writer, we met at Uncle Sam’s house – where he came to present his latest book to the Publisher. An avid reader, I immediately begged for a copy. He agreed on condition I came to his house to collect it. I followed him and after collecting a free copy decided to at least return some of the favour.

    “Sir, your Presidential candidate has not outlined an economic programme for the country. How do you expect us to vote for Buhari without that?” I asked.

    “Dele, you are an economist and Nigeria belongs to all of us. Why don’t you help us with an Economic Blueprint for governance?” That was his reply. With that I was trapped into working for a political party and candidate, without being a card-carrying member, for the first time in my life. Hitherto, I had avoided politics like the plague. It was agreed that a brief summary be produced and brought to Abuja and later on work on a complete economic programme. I needed assistance and, at my own expense hired three people.

    We finished the draft which was presented to a select group of campaign Managers, including Engineer Buba Galadima, at the Wuse office of Dr Usman Bugaje. The next thing was to brief Buhari. After four trips to Abuja, mostly at my expense, I gave up. Why? Because I finally got one of Buhari’s closest associates, name withheld, to disclose to me why appointments were being cancelled. Buhari had seen a copy of the draft and could not understand the economic principles underlying the programmes and projects. I was alarmed.

    Still, I supported him in 2011 and 2015 because insecurity and corruption topped the list of national concerns. Momoh also said that Buhari’s shortcomings in economics will be rectified by appointing world class Nigerians to manage the important Ministries, Departments and Agencies, MDAs. I felt relieved.

    When Buhari and Tinubu eventually agreed to form the nucleus of the All Progressives Congress, APC, Momoh’s influence on Buhari was sharply reduced. In 2014, realising that APC’s candidate, Buhari, was not mentioning economic programmes, I contacted late Alhaji Ismaila Funtua to arrange an appointment. I finally gave up after three more abortive trips to Abuja. More alarming, the man who was later to become our President had no interest in economic policies, programmes and projects. But, I rejected Jonathan because it never occurred to me that any President could be worse than GOJ – who was a well-educated disaster. Now, I know we have not reached the bottom yet…

    “If you don’t know where you are going; you will end up anywhere.”

    Yogi Bera, late US comedian.

    Buhari came into office, unlike Bidden, without an economic plan. Unlike the American President who started to assemble his top subordinates before date for inauguration, Buhari slept through five months after he reached office. Again, unlike Joe Bidden, who appointed tested individuals as Economic Team Managers, Buhari came up with light-weights as Finance Ministers – people not previously known beyond the confines of their communities. They were given no economic road maps, no compass and no chosen destination for the trips on which they have been taking us. We are winding up anywhere else but where the people would want to be. Below is one port where Nigerians don’t want to be; but, where they will land nevertheless.

    “Poor Nigerians’ll increase by 15 million soon – W’ Bank.” News.

    The World Bank, which recently provided that bit of bad news, elaborated by saying “our estimates are that the number of the poor will increase by about 15 to 20 million people by 2022 from the about 83 million people in 2019. and the 2019 numbers are from the Nigeria Living Standard Survey of 2018/2019.”

    Some explanations are required; but they all point in the same direction. First, the 83 million people acknowledged in the 2018/2019 survey represent mostly 2018 estimates. As usual, more people would have been added to the number by the time the survey results came out. Second, even if the relevant figure remained 83 million, adding 15 to 20 million in two years will mean 98 to 103 million poor with less than one year of Buhari administration to go. Third, it is also implied that Buhari’s promise to lift 100 million Nigerians out of poverty in ten years has now been exposed as, at best, a mission impossible ; or, at worst a deliberate fraud. Fourth, the worst is yet to come. The number of people who tumbled into poverty in 2020 was the worst in history in many countries since the Great Depression of the 1930s. We are still waiting for the actual figures.

    WHY THE FUTURE AFTER BUHARI IS BLEAK.

    “Invariably, the most dangerous people seek power.”

    Saul Bellow, 1915-2005, VANGUARD BOOK OF QUOTATIONS, VBQ p 124.

    Saul Bellow lived long enough to see the likes of Jomo Kenyatta, Hastings Banda, Mobutu, Idi Amin, Abacha and Robert Mugabe rule different countries in Africa. No continent on earth proves his assertion more than Africa. We seem to be particularly cursed with regard to those who have ruled us since “the wind of change” blew all over Africa. No African leader has performed better than the colonial masters. All have destroyed most of what they inherited in terms of governance. Nigeria was a middle income country up to 1965; ahead of South Korea, Malaysia and Indonesia under Sir James Robertson — Governor General.

    When Buhari departs in 2023, this country will be light years behind all those countries. We were not among the poorest in 2012. We raced up to the leader, India, and overtook her by 2018 to become the poorest nation on earth. Worse still, under Buhari we have been adding more people living in poverty every year than half the nations in the United Nations. By 2023 about 35-40 million more.

    It is an axiom of development that it is easier to destroy than to build. For instance, the World Trade Centre, New York, which took years to build was reduced to rubbles in less than two hours by Al Qeda on September 11. But, economic destruction needs not be that sudden. At a national level, it generally takes several years of macro-economic mismanagement; during which each succeeding year builds on the ravages of previous years. Nigeria is in that unfortunate situation now.

    By May 29, 2021, Buhari would have been six years at the helm. Yet, the cumulative Gross Domestic Product, GDP, for the period will be a mere 0.4 per cent. Meanwhile, population had grown by 18 per cent. The mere contrast between the two – GDP and population – growth summarises all the previous gains that had been erased. More depressing is the fact that Buhari still has more than two years to go – two more years of demolition; that is. It is difficult to imagine the man changing his mind-set and setting the country on the path of growth once again. The next President will need close to two terms to undo the damage to the Nigerian economy. My last meeting with Momoh was again in Uncle Sam’s house about 15 months ago. He was presenting another book. “Egbon, is this how to manage an economy?” I asked. “Dele, let’s change the subject.” He promptly replied. He remained loyal; but he was fed up.

    May Prince Tony Momoh’s soul rest in perfect peace.

  • World bank raises alarm, says 15 million Nigerians will soon join poverty rank

    World bank raises alarm, says 15 million Nigerians will soon join poverty rank

    The World Bank and the Chairman of the Presidential Economic Advisory Council, Dr Doyin Salami warns that Nigeria needs to implement key reforms in order to get the economy out of the current stagnation it finds itself.

    The revelation sufficed on Tuesday at the virtual launch of the 2021 Macroeconomic Outlook of the Nigerian Economic Summit Group, a private sector-led think-tank.

    At the forum, the World Bank said its estimates show that between 15 million and 20 million Nigerians will join the poverty rank by 2022.

    World Bank Senior Economist, Gloria Joseph-Raji, noted that COVID-19 hit the Nigerian economy very hard as the country experienced in 2020 its deepest recession since the 1980s and the second in five years.

    According to her, Nigeria needs to push forward policies that help to improve the business environment and improve the welfare of the average Nigerian.

    She said, “We actually consider Nigeria right now to be at a critical junction in the sense that the achievement of its development goal of lifting 100 million people out of poverty by 2030 was already challenging even before COVID-19 struck, and then COVID-19 has made this even more challenging and more urgent.

    “So, with lower growth and fewer jobs, and then coupled with high inflation, our estimates are that the number of the poor will increase by about 15 to 20 million people by 2022 from the about 83 million people in 2019. And the 2019 numbers are from the Nigeria Living Standards Survey of 2018/2019.”

    Joseph-Raji noted that the authorities had risen to the occasion and had taken some bold reforms in order to respond to the crisis.

    She said they had tried to adopt a market-based mechanism for petroleum pricing and adjust electricity tariffs to more cost-reflective levels in order to free up fiscal resources.

    “However, more needs to be done if Nigeria really wants to make progress towards meeting its broad development goals,” she added.

    According to Joseph-Raji, the key priorities for the government include adopting more transparent and credible foreign exchange allocation, mobilising tax revenues in a way that does not negatively affect investments and growth, strengthening the management of monetary policies towards the primary objective of price stability.

  • We are close to lifting 20 million Nigerians out of poverty – Osinbajo

    We are close to lifting 20 million Nigerians out of poverty – Osinbajo

    Vice President Yemi Osinbajo (SAN) has said that the Federal Government’s vision to lift at least 20 million Nigerians out of poverty in the next two years is now within reach.

    Professor Osinbajo stated this on Tuesday in Abuja during the virtual flag-off of the cash transfer scheme, called the Rapid Response Register (RRR), to be facilitated through a wholly technology-based approach.

    This followed the successful activation of the Economic Sustainability Plan’s (ESP) Cash Transfer scheme aimed at delivering financial support to at least 1 million urban-based households.

    According to the Vice President, RRR is a means by which the urban poor and vulnerable population can be speedily identified using geographic satellite technology and other related means for the purposes of delivering cash to households affected by the fallouts of the COVID-19 pandemic in the country.

    “The groundbreaking success of the RRR, now emboldens us to achieve our aspiration of a social security programme for a minimum of twenty million Nigerians in the next two years. This will be the largest of its kind on the continent. This (aspiration) is, at least from the perspective of this tested approach, now well within our reach,” a statement by the Vice President’s aide, Laolu Akande quoted him as saying.

    “The only constraint, of course, is the funding which we must look for because, this country deserves a social security scheme that will not merely alleviate poverty but also create wealth for the millions of those who are waiting for this opportunity.

    “Our government launched the National Social Protection Policy (NSPP) in 2017 to provide the framework for institutionalizing the work we started since 2016 on reducing extreme poverty in Nigeria, based on our administration’s vision to create a comprehensive social security programme for the poor and vulnerable and thereafter the pledge to lift 100 million Nigerian’s out of poverty in ten years.”

    The Vice President maintained that the launch of the (RRR) social protection method of targeting, which is the first strategy to be developed and tested in the Sub-Saharan Africa region, would enable Nigeria tackle poverty in a more systematic manner, leveraging technology to expand the scope of the interventions.

    “As of 31st December 2020, we have identified and registered about 24.3 million poor and vulnerable individuals into the National Social Register; equivalent to about 5.7 million households. Through this project, we are currently injecting about N10 Billion directly into the hands of about 2 million poor and vulnerable people every month,” the Vice President said.

    “This is about the largest evidence-based effort by any administration on poverty reduction and its impact on the lives of the poor is huge; by way of improving the livelihoods of the beneficiaries through enhanced household purchasing power; smoothening consumption; increasing savings and acquisition of household assets; and improving the local economy. There are many more ramifications.”

    Earlier in her remarks, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Farouq, said the initiative would provide a gateway to other important government programmes, adding that Nigeria now has a database for impact tracking and the expansion of social interventions and related programmes, in line with President Muhammadu Buhari’s vision of extending financial support to more Nigerians.

    She said: “By design, this register links to other databases such as banking information of respondents and national identity numbers. It is also a process that is advanced in unifying national databank towards the delivery of social development in Nigeria. There is no doubt that in future, as has been demonstrated in the previous presentation, we would be reverting to the process used here and the register itself, to aid emergency assistance”.

    On his part, the World Bank Country Director for Nigeria, Mr Subham Chaudhuri commended the Federal Government for the initiative, noting that it as a critical component in the country’s response to the COVID-19 pandemic.

    While pledging the support of the World Bank for the project, Mr Chaudhuri emphasized the need for stakeholders to remain transparent in the selection and disbursement of the funds to the beneficiaries.

    About 3,115 households received alerts of payments instantly at the flag-off of the project by the Vice President.

    A total of 1 million households would be impacted directly under the scheme in the next 6 months.

    The Cash Transfer scheme which is part of the ESP is designed to build a shock responsive framework for capturing and registering the urban poor and vulnerable populations across Nigeria. The RRR focuses mainly on the urban poor wards selected using scientifically validated methods of satellite remote sensing technology, machine learning algorithm and big data analysis.

    Also present at the event were the Minister of Labour and Employment, Sen. Chris Ngige; the representative of the European Union (EU) mission in Nigeria, Mr Ketil Karlsen, among others.