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JUST IN: I have lifted over 10M Nigerians out of poverty- Buhari

By Monsurudeen Olowoopejo

President Muhammadu Buhari has disclosed that atleast 10 million indigent Nigerians have been lifted out of poverty through the National Social Investment Programme (NSIP) and that over 30 million citizens were currently benefitting from the programme designed to get 100 million people out of the poverty net.

Buhari said that the 10.5 million people already out of the poverty net were farmers, small-scale traders, artisans, market women, and others that whose there businesses got a leap through different economic policies introduced since the assumption of office two years ago.

He promised to lift more people out of poverty to complete 100 million targets set by the administration’s at inception,  using the National Social register of poor and vulnerable households that have identified indigent Nigerians across 708 local government areas, 8,723 wards, and 86,610 communities across the 36 States and the Federal Capital Territory (FCT).

The president released the statistics on Saturday during a live broadcast to mark June 12 Democracy Day celebration where he detailed the administration’s achievements and listed developmental plans that would be embarked upon going forward, disclosed that under NSIP, there are over 32.6 million beneficiaries.
He explained that the conditional cash transfer program had benefited over 1.6 million poor and vulnerable households comprising more than 8 million individuals, saying this provides a monthly stipend of N10,000 per household.
Buhari said: “I have also recently approved the National Poverty Reduction with Growth Strategy Plan that augments existing plans to further reduce poverty in Nigeria. At the end of 2020, the Development Bank of Nigeria had disbursed 324 billion Naira in loans to more than 136,000 Micro, Small & Medium Enterprises (MSMEs), through 40 participating Financial Institutions. I am to note that 57 percent of these beneficiaries are women while 27 percent are youth.
“In the last two years, we lifted 10.5 million people out of poverty – farmers, small-scale traders, artisans, market women, and the like. I am very convinced that this 100 million target can be met and this informed the development of a National Poverty Reduction with Growth Strategy. The specific details of this accelerated strategy will be unveiled shortly”, the president added.

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