President Bola Tinubu has launched three World Bank-backed intervention programmes worth $3.05 billion to strengthen social protection, human capital development and support for vulnerable communities across Nigeria.
The initiatives are intended to ensure that the benefits of the Economic reforms are felt directly by the citizens through improved livelihoods and access to essential services.
In a keynote address delivered on his behalf by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, President Tinubu described the initiatives as key pillars of the Renewed Hope Agenda, saying “the projects were designed to ensure that the gains of ongoing economic reforms translate into improved living conditions for Nigerians.”
He said the programmes would expand support for smallholder farmers, micro, small and medium enterprises, strengthen primary healthcare, improve foundational learning in public schools and support teachers.
They will also promote transparent governance at the ward level, and provide infrastructure, livelihoods and essential services for internally displaced persons and their host communities.
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The President highlighted that the interventions formed a coordinated national strategy for poverty reduction, human capital development and community resilience.
He emphasised that the Nigerian Government was committed to ensuring that economic recovery reached every household.
In addition, President Tinubu said; “Nigeria’s economic reforms are already yielding positive outcomes, with real GDP recording 11.2 per cent growth and nearly 10 per cent per capital income growth in the United States dollar terms last year, while foreign reserves have exceeded $50 billion and inflation has declined significantly from its 2024 peak.”
He also said the government’s expanded cash transfer programme had reached 15 million vulnerable households, lifting an estimated 7.5 million Nigerians out of poverty.
The President explained that the programmes aligned with the Renewed Hope Development Plan (2026-2030), which focuses on economic diversification, human capital development and stronger subnational institutions as part of the administration’s target of building a $1 trillion economy by 2030
The Nigerian Leader urged state governments, local governments, development partners and implementing agencies to ensure effective implementation of the programmes, noting that their success depended on strong collaboration across all levels of government.
He restated the administration’s commitment to building a Nigeria where extreme poverty is reduced, every child has access to quality education and healthcare, and communities are better equipped to withstand and recover from economic and social challenges.
The programmes unveiled at the State House Conference Centre, Abuja, on Thursday include the $1.25 billion Nigeria Community Action for Resilience and Economic Stimulus Additional Financing (NG-CARES AF), the $300 million Solutions for Internally Displaced and Host Communities (SOLID) Programme, and the $1.5 billion Human Capital Opportunities for Prosperity and Equity (HOPE) Programme, comprising HOPE-GOV, HOPE-PHC and HOPE-EDU.
