Prof Osinbajo reveals that as many as 110m Nigerians are currently living in poverty

VICE president Professor Yemi Osinbajo has revealed shocking statics indicating that as many as 110m Nigerians are living in poverty with about two tenths of them scrapping by in what he described as extreme poverty.

 

Nigeria currently has a population of about 180m and despite economic growth in recent years, this wealth has not generally spread to the entire populace. Speaking yesterday during an event hosted by the Ghanaian president John Mahama, on Africa and Sustainable Development Goals on the sidelines the African Union meeting in Kigali, Rwanda, Professor Osinbajo said the situation was dire.

 

Representing President Muhammadu Buhari at the summit, Professor Osinbajo said the current administration, in a bid to address the poverty level in Nigeria, initiated what he described as the largest social protection programme in the history of the country. He added that in the current budget cycle, the government has the largest social protection programme in the history of the country.

 

Professor Osinbajo said: "It’s a N500bn programme worth over $2.5bn as at the time budget was signed. Basically, we are looking at lifting many out of poverty, of course many are familiar with the size of the Nigerian state and we have close to 110m people who are poor and about two-tenth are in extreme poverty.

 

“So it is a very huge problem and part of what we are trying to do is to look at how not just to empower people but also to ensure that what they are given is sustainable. For the women, we are doing a programme, micro-credit programme for a million market women and artisans.

 

He added that they would be given training as well to enable them to be able to do some work for themselves and to continue to be able to live. Other plans the government has are to pay unemployed youths a monthly stipend.