Osinbajo: FG To Lift 20 Million Nigerians Out Of Poverty In Two Years

Vice President Yemi Osinbajo has assured that with the successful activation of the Economic Sustainability Plan’s (ESP) Cash Transfer scheme, the present administration’s vision of reducing extreme poverty by lifting at least 20 million Nigerians out of poverty in the next two years is attainable.

The Vice President said this on Tuesday, in Abuja, while flagging-off, virtually, the cash transfer scheme to be facilitated through a wholly technology-based approach called the Rapid Response Register (RRR).

According to a statement issued by spokesman, Laolu Akande, the scheme is aimed at delivering financial support to at least 1 million urban-based households using technology.

Adding that RRR is the means by which urban poor and vulnerable population can be speedily identified using geographic satellite technology and other related means for the purposes of delivering cash to households affected by the fallouts of the COVID-19 pandemic in the country.

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It quoted the vice president as saying: “The groundbreaking success of the RRR, now emboldens us to achieve our aspiration of a social security programme for a minimum of twenty million Nigerians in the next two years. This will be the largest of its kind on the continent. This (aspiration) is, at least from the perspective of this tested approach, now well within our reach.

He said: “The only constraint, of course, is the funding which we must look for because this country deserves a social security scheme that will not merely alleviate poverty but also create wealth for the millions of those who are waiting for this opportunity.

“Our government launched the National Social Protection Policy (NSPP) in 2017 to provide the framework for institutionalizing the work we started since 2016 on reducing extreme poverty in Nigeria, based on our administration’s vision to create a comprehensive social security programme for the poor and vulnerable and thereafter the pledge to lift 100 million Nigerian’s out of poverty in ten years.”

Osinbajo maintained that the launch of the RRR social protection method of targeting, which he said, is the first strategy to be developed and tested in the Sub-Saharan Africa region, will enable Nigeria to tackle poverty in a more systematic manner, leveraging technology to expand the scope of the interventions.

The statement further quoted him:

“As of 31st December 2020, we have identified and registered about 24.3 million poor and vulnerable individuals into the National Social Register; equivalent to about 5.7 million households. Through this project, we are currently injecting about N10 Billion directly into the hands of about 2 million poor and vulnerable people every month.

“This is about the largest evidence-based effort by any administration on poverty reduction and its impact on the lives of the poor is huge; by way of improving the livelihoods of the beneficiaries through enhanced household purchasing power; smoothening consumption; increasing savings and acquisition of household assets, and improving the local economy. There are many more ramifications.”

According to the statement, earlier in her remarks, the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Farouq, said the initiative would provide a gateway to other important government programmes, adding that Nigeria now has a database for impact tracking and the expansion of social interventions and related programmes, in line with President Muhammadu Buhari’s vision of extending financial support to more Nigerians.

She said: “By design, this register links to other databases such as banking information of respondents and national identity numbers. It is also a process that is advanced in unifying national databank towards the delivery of social development in Nigeria. There is no doubt that in future, as has been demonstrated in the previous presentation, we would be reverting to the process used here and the register itself, to aid emergency assistance.”

Also speaking, the World Bank Country Director for Nigeria, Mr Subham Chaudhuri commended the Federal Government for the initiative, noting it as a critical component in the country’s response to the COVID-19 pandemic. While pledging the support of the World Bank for the project, Mr Chaudhuri emphasised the need for stakeholders to remain transparent in the selection and disbursement of the funds to the beneficiaries.

The statement informed that about 3,115 households received alerts of payments instantly at the flag-off of the project by the vice president, noting that a total of 1 million households would be impacted directly under the scheme in the next 6 months.