The Presidency has reiterated that President Bola Tinubu’s administration remains committed to driving inclusive economic growth and ensuring that government policies directly ease the burden on citizens.
Mr Sunday Dare, Special Adviser to the President on Media and Public Communication, made this known in a statement shared on his verified X account.
His remarks came in response to the latest World Bank Development Update, which highlighted Nigeria’s continuing poverty levels despite fiscal reforms and improved revenue mobilisation.
Dare explained that the Tinubu administration had rolled out multiple programmes to stimulate recovery, boost productivity, and strengthen social protection frameworks across the country.
He said the government’s interventions were anchored on measurable outcomes designed to improve household welfare and reduce inequality.
According to him, the Conditional Cash Transfer (CCT) scheme remains a key pillar of the Renewed Hope Agenda, with over ₦297 billion disbursed to about 15 million vulnerable households since 2023.
He also pointed to the Renewed Hope Ward Development Programme (RH-WDEP) as a major grassroots initiative designed to deliver micro-infrastructure, livelihood support, and essential services to all 8,809 electoral wards nationwide.
In addition, Dare said the administration is consolidating various social investment initiatives such as N-Power, the Government Enterprise and Empowerment Programme (GEEP) loans—TraderMoni, MarketMoni, and FarmerMoni—and the National Home-Grown School Feeding Programme.
“These interventions are structured to sustain jobs, support small businesses, and ensure that children remain in school,” he said.
On tackling food insecurity, Dare noted that the Federal Government has scaled up subsidised grain distribution, fertiliser support, and mechanised agriculture, alongside revamping strategic food reserves to stabilise prices and boost supply.
He added that increased investment in agriculture, micro, small, and medium enterprises (MSMEs), and energy infrastructure was central to stimulating job creation and lowering the cost of living.
“As these measures take root, citizens will begin to experience relief in food prices, income levels, and purchasing power,” he assured.
The presidential aide said a unified, data-driven monitoring system was being deployed to guarantee transparency and accountability across social investment programmes.
He noted that expanding the National Social Register and the full rollout of RH-WDEP would ensure no community was left behind.
Dare reaffirmed that the administration’s reforms were necessary to rebuild the economy on a foundation of fairness, inclusion, and shared prosperity.
NAN reports that the World Bank, in its recent Nigeria Development Update titled “From Policy to People: Bringing the Reform Gains Home,” acknowledged progress in fiscal discipline, revenue growth, and monetary stabilisation.
However, it noted that challenges such as high food inflation, poverty, and structural barriers still constrain inclusive development.
The Bank urged the Nigerian government to prioritise reducing food inflation by removing trade barriers and addressing supply chain bottlenecks, strengthen fiscal transparency, and institutionalise social protection for the poorest households.
While the report recognised the reforms as significant steps toward stability, it emphasised that sustained improvement in living standards would be the true test of success.
The outlook for Nigeria’s economy remains positive, with growth projected to rise gradually from 4.2 per cent in 2025 to 4.4 per cent by 2027, driven largely by expansion in services, agriculture, and non-oil industries.