President Muhammadu Buhari says in the last two years, government has lift 10.5 million people out of poverty – farmers, small-scale traders, artisans, market women and the like.
He explained that 100 million targets can be met and this informed the development of a National poverty Reduction with Growth Strategy.
The President stated this in his democracy speech delivered today.
He said in the last one year, Nigeria and the whole world faced COVID-19 for which no one was fully prepared and stressed that the country’s response to the pandemic involved making hard choices in balancing livelihoods and public health concerns.
He affirmed that the federal Government ensured that the various lockdown measures did not impact too negatively on the ability of ordinary Nigerians to continue sustaining their livelihoods.
According to President Buhari ‘’During the pandemic, we disbursed N5,000 to 1 million Nigerians using a Rapid Response Register and advanced N20,000 to 750,000 beneficiaries of the Conditional Cash Transfer Progamme and provided 1.37 million Nigerians with palliatives from CACOVID. At the same time the Federal Government released 109,000 metric tonnes of food reserve stocks and 70,000 metric tonnes of grains to the poor and vulnerable in all 36 states of the federation’’.
He noted In addition that Government reduced interest rates from 9% to 5% for struggling businesses and extended credit facilities to 548,345 beneficiaries.