Vice President Kashim Shettima said the Federal Government’s ongoing reforms could lift 40 to 50 million Nigerians out of multidimensional poverty within the next decade.
Speaking at the Nextier Development Solutions Festival (DevFest2025) in Abuja on Tuesday, Shettima described the government’s “Poverty Exit Plan” as both a moral and strategic commitment to ensure no citizen is left behind.
Represented by the Special Adviser to the President on Power Infrastructure, Sadiq Wanka, Shettima said the Tinubu administration’s plan focuses on infrastructure investment, economic and financial inclusion, and transforming agriculture from subsistence to mechanised, value-driven production.
“If we remain consistent, GDP growth will continue to rise, inequality will fall, food and multidimensional poverty will crash, and inflation could reach single digits by 2026,” he said.
He disclosed that over N330 billion has been disbursed to 8.1 million households through cash transfers, while the Nigerian Education Loan Fund (NELFUND) has provided more than N80 billion in loans to over 400,000 students.
The National Agricultural Development Fund (NADF), he added, has attracted over $1 billion in financing to boost mechanisation and value addition.
According to him, key economic indicators are improving: external reserves have risen to $42 billion, inflation has fallen for six straight months, and the naira is stabilizing. Nigeria’s trade surplus widened by 44.3 per cent in the first half of 2025 to over N10 trillion, strengthening investor confidence.
The event, themed “Ending Poverty in Nigeria,” brought together government officials, development partners, researchers, and innovators to design homegrown solutions to poverty.
European Union Ambassador to Nigeria and ECOWAS, Gautier Mignot, stressed that poverty reduction must be driven by domestic policies and inclusive growth.
He highlighted the need for better jobs, social safety nets, and youth-focused policies, noting that rural poverty remains as high as 72 per cent.
He revealed that the EU has committed over €87 million to strengthen Nigeria’s social safety nets and €150 million in humanitarian aid to address food insecurity affecting 33 million Nigerians.
Ndubuisi Nwokolo, Partner at Nextier Development Foundation, urged stakeholders to go beyond short-term fixes and scale up data-driven, evidence-based solutions.
He called for political will, stronger partnerships, and systems that empower communities and leverage Nigeria’s youthful population for growth.
