FG Approves N400 Billion for Poverty Reduction

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CEM REPORT | The Federal Government has approved the sum of N400 billion for the National Poverty Reduction and Growth Strategy (NPRGS) Scheme 2022.

According to Governor Abdullahi Sule of Nasarawa State, who made the disclosure while speaking to State House correspondents after the National Steering Committee of NPRGS meeting at the Presidential Villa, Abuja.

He said the approved sum is to fund certain welfare schemes which includes; the Conditional Cash Transfer, Farmer Money, Market Money and the Government Enterprise and Empowerment Programme (GEEP).

“Looking at what is available in the budget this year, which is roughly N400 billion, the Humanitarian Ministry is going to take N350 billion for the expansion of the various programmes like Government Enterprise and Empowerment Programme(GEEP), Conditional Cash Transfer, Farmer Money, Market Money and the rest of that.” NAN reports.

He further added that another N50 billion will be reserved for various other programmes like the Ministry of Agriculture for rural roads, and electricity in terms of solar.

Recall that President Muhammadu Buhari replaced the Economic Recovery and Growth Plan (ERGP), 2017- 2020, at its expiration in December 2020 with the National Development Plan (NDP) 2021-2025.

He added that NDP was in line with the Federal Government’s plan to lift 100 million Nigerians out of poverty in 10 years, under the National Poverty Reduction with Growth Strategy (NPRGS).

He further said the sum of N348.1 trillion will be needed to achieve the Plan.

He noted that from the sum FG will provide 14.3% resulting to N49.7 trillion, while the private sector would provide the balance of N298.3 trillion resulting to 85.7%.

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