President Muhammadu Buhari says the administration’s ambitious policy of lifting 100 million Nigerians out of poverty did not come by accident but was deliberate and will be pursued.
Speaking on Tuesday at a meeting with the Presidential Economic Advisory Council (PEAC), which was also attended by Vice President Prof. Yemi Osinbajo at the State House in Abuja, President Buhari agreed with the Council that the country required a poverty reduction strategy that will usher in a rapid, sustained, sustainable and inclusive economic growth.
According to a statement made available by the Senior Special Assistant to the President, Media and Publicity, Garba Shehu, the President wondered what became of the nation in the past, “with all the resources available to it” that no such coordinated, holistic agenda on poverty reduction was ever contemplated.
Speaking after the presentation of the report on national poverty reduction strategy, developed by the PEAC, President Buhari requested PEAC to present the document to the Federal Executive Council (FEC) (on Wednesday, 24th February 2021). as part of the consultation process.
PEAC Chairman, Prof. Doyin Salami welcomed the country’s exit from recession but cautioned that the strength of the economic growth must be driven in a way that it will overtake population growth.
The poverty reduction strategy, as presented, requires the nation to raise agricultural productivity; to address the wide disparity among states and the regions in the distribution of poverty; to ensure macro-economic stability; and to take advantage of the different economic endowments of the country in the promotion of industrialisation.
The Council also suggested the setting up of a “National Council on Poverty Reduction,” made up of all these stakeholders, which was accepted by the President.