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35 million Nigerians will be out of poverty in four years – Buhari

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PRESIDENT Muhammadu Buhari says his administration is responding to the challenges and opportunities of the moment by articulating forward-looking policies and strategies to achieve national goals and will lift 35 million Nigerians out of poverty in the next four years.

  Buhari stated that the broad objectives of the new medium-term National Development Plan would be to diversify the economy, invest in critical infrastructure, build human capital and improve governance and security. The president pointed out that the intention was to achieve broad-based and inclusive GDP growth to create 21 million jobs and lift 35 million people out of poverty by 2025.

  “This ambitious but realisable target is consistent with the government’s vision of lifting 100 million Nigerians out of poverty in a decade. The shock caused by the pandemic, which is still very much with us, was that Nigeria, as a developing economy, is striving to become a digital economy so that we can leapfrog into the Fourth Industrial Revolution.”

  He added, “As if this is not challenging enough, we are also required as a good member of the international community to take steps to mitigate and to adapt to climate change. This is not a simple matter if we bear in mind that we are reliant on oil and gas for revenues and export earnings, and yet reduction of the use of fossil fuels is the frontline strategy needed for achieving net-zero carbon emissions by 2050.”

  President Buhari stated this in a virtual address delivered at the opening of the 27th Nigerian Economic Summit, represented by Vice President Yemi Osinbajo.

  President Buhari said to tackle existing problems and at the same time benefit from domestic and global trends, stakeholders both in public and private sectors must take timely actions and immediate steps.  

  According to him, growth figures are meaningless if they do not translate into good-paying jobs and improved living standards for our people.

  “The question, of course, I insist, that must be answered regarding all our policies, is what do they mean for the creation of wealth and human capacity development? The new plan incorporates aspects of the National Poverty Reduction with Growth Strategy, which was articulated as a guide towards achieving our poverty reduction target,” Mr Buhari added. “The starting point for the implementation of the strategy is the realisation that increased employment is an indispensable tool for reducing poverty.”

  He asserted that his regime “is responding to the challenges and opportunities of the moment by articulating forward-looking policies and strategies and implementing a coherent, clear and consistent set of actions in order to achieve our desired objectives.”

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