The Nigerian Presidency has reaffirmed President Bola Tinubu’s commitment to inclusive economic growth, emphasizing the need to tackle persistent poverty despite rising government revenue and increased capital expenditure. This stance follows a recent World Bank report that called for policies to improve the living standards of Nigerian citizens.
According to Sunday Dare, Special Adviser to the President on Media and Public Communication, the administration is concentrating on household welfare through measurable interventions. The Conditional Cash Transfer program, for example, has reached up to 15 million households and disbursed more than ₦297 billion since 2023. The Renewed Hope Ward Development Programme seeks to deliver micro‑infrastructure, essential services, and livelihood support directly to grassroots communities.
The government is also consolidating social investment schemes such as N‑Power, GEEP loans, and the School Feeding Programme to protect jobs, support micro‑businesses, and keep children in school. Efforts to enhance food security include subsidized grain distribution, fertilizer support, agricultural mechanisation, and the revitalisation of strategic food reserves to stabilise prices and boost supply.
The World Bank has recognised Nigeria’s progress in economic growth, domestic revenue mobilisation, and monetary policy, but it notes that more must be done to translate these gains into better living standards. The bank recommends tackling food inflation, improving the efficiency of public spending, and expanding social protection to bridge the gap between macro‑economic progress and welfare improvements.
Nigeria’s economy is projected to grow modestly, from 4.2 % in 2025 to 4.4 % in 2027, driven by services and supported by agriculture and the non‑oil industry. Government investments in agriculture, MSMEs, and power infrastructure are expected to stimulate job creation and reduce living costs. As these programmes mature, Nigerians can anticipate visible improvements in food prices, income and purchasing power.
The administration’s focus on transparency and accountability in social investment—including the expansion of the National Social Register—aims to include every vulnerable community and lay the foundation for a fairer, more prosperous Nigeria.
Comments are closed for this story.