President Muhammadu Buhari says the recently developed Economic
Sustainability Plan, aimed at stimulating the economy amid the COVID-19
pandemic, will extend protection to very poor Nigerians and other
vulnerable groups through pro-poor spending.
The President spoke in a recorded video message to a virtual high-level
UN meeting on trends, options and strategies in poverty eradication
across the world.
The event took place at UN headquarters in New York, Tuesday and also
served as the official inauguration of the Alliance for Poverty
Reduction (APE), an initiative of the President of the General Assembly,
Prof. Tijjani Muhammad-Bande.
Warning that COVID-19 pandemic risks reversing decades of progress
achieved in the efforts to eradicate poverty globally, President Buhari
apprised the UN meeting on steps to revive the nation’s economy in the
wake of the pandemic.
”It is my conviction that devoting our efforts towards human capital
development, efficient management of our resources, greater financial
inclusion and transformation of the agricultural sector to ensure food
security are crucial to poverty eradication.
”In this regard, Nigeria continues to strengthen its existing social
safety net initiative by increasing access to enrollees who fit the
various programmes in the scheme.
”Nigeria will also continue to provide easier and increased access to
financial services for micro and small-scale businesses through the
Government Enterprise and Empowerment Programme. But we are determined
to do more.
”Nigeria holds the view that education is a critical driver of
sustainable development and has an immense capacity to eradicate
poverty.
”Educating our children, especially the girl-child, contributes
significantly to the fight against poverty, environmental
sustainability, and improved health, as well as building peace and
resilient societies,” he said.
President Buhari also used the occasion to reiterate the commitment of
his administration to poverty eradication, highlighting the national
programme of lifting 100 million Nigerians out of poverty.
”Nigeria attaches great importance to poverty eradication.
”It is, for this reason, that in May 2019, on my inauguration for a
second term in office, our Government committed itself to start a
Programme of lifting 100 million Nigerians out of poverty within a
10-year period,” he said.
On the impact of COVID-19 pandemic, President Buhari said in Nigeria, as
in many other countries, the domestic supply chains and trading
corridors have come under enormous strain, bringing to fore the health
versus economics debate.
On poor and vulnerable people, the Nigerian leader expressed concern
that more than 700 million people or 10% of the world’s population are
classified as living in extreme poverty.
”All the while they struggle with the most basic needs like nutrition,
shelter, health, education and access to clean water and sanitation.
”In this condition, the number of poor people is estimated to triple as
livelihoods across almost all economic sectors have been adversely
affected,” he said.
President Buhari also told the meeting that with a population of about
200 million; a large percentage of Nigerians live in various stages of
poverty, adding that the prospect of the population sliding further into
extreme poverty is real, stressing, however, that government was also
striving to combat and reverse the trend.