President Muhammadu Buhari on Saturday said his administration’s vision of pulling 100 million poor Nigerians out of poverty in 10 years has been put into action.
Buhari stated this during a live broadcast in commemoration of Democracy Day.
Buhari said 32.6m beneficiaries are already taking part in the National Social Investment Programme, NSIP which has produced a National Social register of the poor and vulnerable households, identified across 708 local government areas, 8,723 wards and 86,610 communities in the 36 States and the FCT.
In addition, the President said “our conditional cash transfer program has benefited over 1.6 million poor and vulnerable households comprising more than 8 million individuals. This provides a monthly stipend of N10,000 per household.
“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 MSMEs, through 40 participating Financial Institutions. I am to note that 57% of these beneficiaries are women while 27% are the youths”.
