Tinubu Unveils $3.05bn Poverty Reduction Programmes

President Bola Tinubu has launched three intervention programmes valued at about $3.05bn to tackle poverty, strengthen healthcare and education, support displaced persons, and boost livelihoods across Nigeria.

The programmes, unveiled on Thursday at the State House Conference Centre, Abuja, include the Nigeria Community Action for Resilience and Economic Stimulus Additional Financing (NG-CARES AF), the Solutions for Internally Displaced and Host Communities (SOLID) programme, and the Human Capital Opportunities for Prosperity and Equity (HOPE) initiative.

In his keynote address, delivered by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, Tinubu said the initiatives were central to the Renewed Hope Agenda and designed to ensure that the gains of ongoing economic reforms translate into improved living conditions for ordinary Nigerians.

He added that while the economy was showing signs of recovery, the benefits must extend beyond national economic indicators to households and communities across the country.

According to him, the programmes align with the Renewed Hope Development Plan (2026–2030), which focuses on economic diversification, human capital development and strengthening sub-national governments.

The President said Nigeria recorded 11.2 per cent real GDP growth and nearly 10 per cent per capita income growth in dollar terms last year, adding that foreign reserves had exceeded $50 billion, while inflation had declined significantly from its 2024 peak.

“Real GDP grew by 11.2% and nearly 10% per capita income growth in USD terms last year, and is on track for a repeat this year, making Nigeria not only one of the fastest growing economies in the world but also one of the fastest rates of people being lifted out of poverty,” he said.

He further disclosed that the Federal Government’s expanded cash transfer programme had reached 15 million vulnerable households, lifting an estimated 7.5 million Nigerians out of poverty.

“These are not abstract figures. They are the foundation for the next phase of our national development: making sure this recovery reaches every Nigerian. Through expanded cash transfers, we have already reached 15 million vulnerable households, lifting an estimated 7.5 million people out of poverty. Today’s programmes build directly on that momentum,” Tinubu said.

Providing details of the new interventions, the President said the $1.25 billion NG-CARES Additional Financing, supported by the World Bank, would focus on supporting smallholder farmers and small and medium-sized enterprises.

He said the $300 million SOLID programme would provide infrastructure, livelihoods and essential services for internally displaced persons and their host communities, bridging humanitarian assistance with long-term development.

Tinubu added that the $1.5 billion HOPE programme would strengthen primary healthcare, improve foundational learning in public schools, support teachers and enhance governance at the ward level through its HOPE-GOV, HOPE-PHC and HOPE-EDU components.

He stressed that the three interventions form a single national strategy aimed at reducing poverty, developing human capital and building resilient communities through a ward-based approach that aligns federal, state and local governments.

He urged state governments, development partners and implementing agencies to ensure effective execution of the programmes, saying their success depends on strong collaboration at all levels.

Tinubu reaffirmed his administration’s commitment to eliminating extreme poverty, expanding access to quality education and healthcare, and building communities capable of withstanding economic and social challenges.

He formally declared the NG-CARES Additional Financing, the HOPE programmes and the SOLID initiative open for implementation across the country.