Regardless of the cries of Nigerians about the increasing difficulties they daily face to survive, President Muhammadu Buhari, Saturday, thumbed his chest and insisted that his administration had removed over 10 million Nigerians out of poverty in the last two years.
The President made the claim in his Democracy Day broadcast in which he appraised his administration’s efforts at making Nigeria great again.
Though he said his administration’s efforts on poverty alleviation were work-in-progress, as there was still a lot to be done, his “achievements…are there for all to see”.
“We are doing our best in the face of scarce resources and galloping population growth rate that consistently outstrips our capacity to provide jobs for our populace,” he enthused.
“Our over-all economic target of lifting 100 million Nigerians out of poverty in 10 years is our goal notwithstanding COVID-19.”
The President regaled in some self-adulation, declaring that “In the last two years, we lifted 10.5 million people out of poverty-farmers, small-scale traders, artisans, market women and the like.”
Continuing, Buhari expressed optimism that his “100 million target can be met.”
This, he added, informed the development of a National Poverty Reduction with Growth Strategy, which details he would soon unveil.
Again, Buhari’s exact words:
“My vision of pulling 100 million poor Nigerians out of poverty in 10 years has been put into action and can be seen in the National Social Investment Programme, a first in Africa and one of the largest in the world where over 32.6m beneficiaries are taking part. We now have a National Social register of poor and vulnerable households, identified across 708 local government areas, 8,723 wards and 86,610 communities in the 36 States and the FCT.
“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.
“As 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 youth.
“We are able to do all these and still accelerate our infrastructure development through sensible and transparent borrowing, improved capital inflow, improving and increasing revenue through capturing more tax bases and prudent management of investment proceeds in the Sovereign Wealth Fund.”
The President said:
“Our infrastructure revolution continues with key projects attaining critical milestones under the Presidential Infrastructure Development Fund; The Second Niger Bridge, The Lagos- Ibadan Expressway and the Abuja-Kaduna-Zaria-Kano Expressway.
“I have also approved the establishment of Infraco Plc, a world-class infrastructure development vehicle wholly focused on Nigeria with a capital structure of N15 trillion.
“The rail system is not left out as the Itakpe-Warri standard gauge rail was completed and commissioned 33 years after construction began. The Lagos-Ibadan double track railway line which I have just commissioned has commenced operations.
“We are focused on ensuring that our infrastructure drive is key to economic growth and one that can be felt by every Nigerian. Building critical infrastructure in our ports is also opening up opportunities for the Nigerian economy.
“My approval for 4 new seaports using a Public-Private-Partnership approach is hinged on growing the Nigerian economy. These four sea ports; Lekki Deep Sea Port, Bonny Deep Sea Port, Ibom Deep Sea Port and Warri Deep Sea port will create massive job opportunities and foreign investment inflows.
“We have worked at deepening our Eastern ports leading to success like having three container ships berth at Calabar port, a first in 11 years. Similarly, on October 30 2019, an LPG tanker operated by NLNG berthed in Port Harcourt, the first time an LPG ship is berthing at any of the Eastern Ports.
“As we invest in these new assets, we have also made strides in ensuring that they are secured and protected. In this regard I am also pleased to note the launch of the NIMASA Deep Blue project – which is an Integrated National Security and Waterways Protection Infrastructure that I recently commissioned. This initiative is designed to add to the layer of security we have to safeguard our maritime sector.”
President Buhari said:
“In the last one year, Nigeria and the whole world faced COVID-19 for which no one was fully prepared.
“Our response to the pandemic involved making hard choices in balancing livelihoods and public health concerns. You are all living witnesses to how successful this has been due to a number of pro-active measures put in place. Our response to COVID-19 is globally acclaimed.
“We were able to ensure that the various lockdown measures did not impact too negatively on the ability of ordinary Nigerians to continue sustaining their livelihoods.
“During the pandemic, we disbursed N5,000 to 1 million Nigerians using a Rapid Response Register and advanced N20,000 to 750,000 beneficiaries of the Conditional Cash Transfer Progamme and provided 1.37 million Nigerians with palliatives from CACOVID.
“At the same time the Federal Government released 109,000 metric tonnes of food reserve stocks and 70,000 metric tonnes of grains to the poor and vulnerable in all 36 states of the federation.
“In addition, Government reduced interest rates from 9% to 5% for struggling businesses and extended credit facilities to 548,345 beneficiaries.”
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