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Home Economy

FG earmarks $7bn for poverty reduction

Business 360 by Business 360
October 26, 2022
in Economy
0
FG borrowed N1.3tn in four years to subsidise power consumers, firms – World Bank

The Federal Government says it has earmarked about $7 billion within the last seven years in its efforts to pull 100 million Nigerians out of poverty through its National Social Investment Programme in the country.

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiyya Farouq, stated this in a keynote address during the flag-off of the N-Skills, Pilot 2, which held on Tuesday at the Professor Iya Abubakar Resource Center, Bauchi.

She said that the President, Major General Muhammadu Buhari (retd.), since assuming office in 2015, had given great priority to addressing the plights of the poor and vulnerable people across the country.

According to her, the N-Ship had become one of the largest social protection programmes in the African continent with $1 billion budgeted annually. “Since the inception of President Muhammadu Buhari’s administration in 2015, the Federal Government has paid more attention to promoting the plight of the poor and vulnerable in the country despite the economic slump the administration inherited.

“This informed the decision to initiate the National Social Investment Programme (NSIP) as a strategy for enhancing social inclusion.

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