On October 17, 2023, President Tinubu, delivered a speech at the occasion of the International Day for the Eradication of Poverty and the flag-off of the Renewed Hope Conditional Cash Transfer. In his speech, he reaffirmed his administration’s commitment to poverty alleviation and outlined a number of initiatives that the government is taking to address this issue.
The president noted that the theme of this year’s commemoration, “Decent Work and Social Protection: Putting dignity in practice for all,” is in line with his administration’s Renewed Hope agenda. He stated that his government is leading from the front in seeking to ensure that all Nigerians have opportunities for decent work and sustained social protection.
As part of its efforts to alleviate poverty, the government is launching the Renewed Hope Conditional Cash Transfer Program for vulnerable groups. This program is designed to cushion the effects of fuel subsidy removal and other economic shocks.
In addition to this program, the government is also taking a number of other steps to address poverty, including:
Investing N100 billion to purchase 3000 units of 20-seater Compressed Natural Gas (CNG) powered buses for cheaper transportation; Investing N200 billion to cultivate 500,000 hectares of farmland to improve food security; Releasing 2000 metric tons of grains from the strategic grain reserves to households across the 36 States and the Federal Capital Territory;
Distributing 225,000 metric tons of fertilizer and seedlings to farmers; Releasing N75 billion to support 100,000 SMEs and start-ups; Implementing the Renewed Hope Shelter Programme for the Poor, Refugees & Internally Displaced Persons; Implementing the Renewed Hope Business Grants & Loans for Vulnerable Market women, farmers, and traders;
Implementing the Renewed Hope support to MSMEs; Implementing the Renewed Hope Skill Acquisition Programmes for young Nigerians; Implementing the Renewed Hope National Home Grown School Feeding Programme; Implementing the Renewed Hope Alternate
School Programme; Implementing the Renewed Hope for At-Risk Children Programme; Implementing the Renewed Hope Community and Social Development Programme for community grassroot projects; Implementing the Renewed Hope Job Creation Scheme.
President Tinubu called on all Nigerians to contribute their own quota in partnership with the Ministry of Humanitarian Affairs and Poverty Alleviation to help eradicate poverty in Nigeria. He stated that the objective of the government is to lift millions of Nigerians out of poverty, but this will only be possible with the cooperation of the people.