FG's goal of lifting 20m Nigerians out of poverty is now within reach - Osinbajo

Vice President Yemi Osinbajo has said that the Federal Government’s goal of lifting at least 20 million Nigerians out of poverty in the next two years is now within reach.

Speaking on Tuesday January 19 at the virtual flag-off of the cash transfer scheme "Rapid Response Register (RRR)" which will be facilitated through a wholly technology-based approach, Osinbajo stated that scheme will be used to speedily identify urban poor and vulnerable population through 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.

Osinbajo in a statement released by his media aide Laolu Akande, was quoted 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.

“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.”

The Vice President who stressed that the launch of the (RRR) social protection method of targeting is the first strategy to be developed and tested in the Sub-Saharan Africa region, added that it would enable Nigeria tackle poverty in a more systematic manner, leveraging technology to expand the scope of the interventions.

Osinbajo added; 

“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.”