Politics

Our vision to lift 20million Nigerians out of extreme poverty is now within reach – Vice President Osinbajo

President Muhammadu Buhari and Vice President Yemi Osinbajo

Vice President Yemi Osinbajo has stated that the President Muhammadu Buhari’s government would lift 20 million Nigerians out of poverty in two years.

Osinbajo who spoke in Abuja on Tuesday, while flagging off, virtually, the cash transfer scheme, assured that with the successful activation of the Economic Sustainability Plan’s (ESP) Cash Transfer scheme, the present administration’s vision of reducing extreme poverty is now within reach.

The scheme is aimed at delivering financial support to at aleast 1 million urban-based households using technology.

“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.

“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.”

“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.

“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.”

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