N400BN Poverty Reduction Scheme Approval By the FG

Currently, the FG has approved the sum of N400 billion for the NPR & Growth Strategy. This fund covers some welfare schemes, which include the Government Enterprise & Empowerment Program, Conditional Casha Transfer, Farmer Money, and Market Money.

The approval for the year 2022, was confirmed by the Governor of Nasarawa State by name – Abdullahi Sule.

Governor Sule spoke with the State House correspondents on Thursday immediately after the meeting by the NSC of NPRGS at Aso Rock, Abuja, in order to review the implementation of the approved budget.

President General Muhammadu Buhari (retd) was the one who set up the NPRGS, which was headed by Vice President Prof. Yemi Osinbajo.

The President stated –

It is a meeting of the steering committee of the Presidential Poverty and Growth Strategy.

In the last meeting we had, the fourth meeting, we were able to set up various working groups that are going to prepare the total budget that was required.

So, they were able to do that, and then we were able to obtain also the president’s approval.

Based on the president’s approval and availability in the budget, this meeting that we had was actually just to go through the implementation of whatever has been approved, both in the budget and by the president,” he said.

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 programs like Government Enterprise and Empowerment Programme, Conditional Cash Transfer, Farmer Money, Market Money and the rest of that

Governor Sule realized that there was another N50 billion, which is to be reserved for various other programs like the Ministry of Agriculture for rural roads, and renewable energy, for example – Solar.

Poverty Eradication Program in Nigeria

National Poverty Eradication Programme (NAPEP) is a 2001 program formed by the Nigerian government with the aim of reducing poverty and absolutely eradicating poverty in a particular region in Nigeria. This program is specifically designed to replace the Poverty Alleviation Program (PAP).

Poverty Reduction Plan

A country’s macroeconomic, structural, and social policies and programs designed to foster growth and alleviate poverty are described in poverty reduction strategies (PRS) and poverty reduction strategy papers (PRSP), along with the corresponding external finance needs and key sources of financing.

Four (4) Agents Responsible for Poverty Reduction in Nigeria

The three agents are:

Why do you think poverty reduction is important? See the next section below.

Reasons for Poverty Reduction

In comparison to persons with greater salaries, those with lower incomes had higher rates of sickness, disease, and disability. They experience an increased incidence of chronic illnesses including high blood pressure, hypertension, and raised cholesterol.

Who Introduced Poverty Alleviation Programme in Nigeria?

The Family Economic Advancement Programme was another initiative by the late Gen Sani Abacha to address poverty (FEAP).

Leave a Comment

You cannot copy content of this page