FG Launches N16 Trillion Plan to Lift 50 Million Nigerians Out of Poverty by 2030

The Federal Government has unveiled a unified national system aimed at lifting 50 million Nigerians out of poverty over the next five years. The ‘One Humanitarian, One Poverty Response System’ was launched on Tuesday by the Ministry of Humanitarian Affairs and Poverty Reduction, with a projected N16 trillion funding target between 2026 and 2030.

Minister Dr. Bernard Doro stated that Nigeria has been “managing poverty, not ending it,” and emphasized the need for a coordinated national direction. The initiative seeks to integrate humanitarian relief, long-term development, and social protection under a single framework.

Key Points:

The government plans to raise N3.2 trillion annually, with contributions from the federal government, development partners, the private sector, and climate funds.
A National Humanitarian and Poverty Reduction Trust Fund will be established using innovative financing mechanisms, including Islamic finance, carbon credits, and social impact bonds.
Over 63 percent of Nigerians face multidimensional poverty, with the NBS noting that no single institution can address the complexity alone.
A strong oversight system will include a national steering committee, independent audits, results-based financing, and real-time digital transparency.
The UN Resident Coordinator emphasized that poverty is now a humanitarian crisis requiring immediate, coordinated action.

With a clear target and a unified framework, the success of the initiative will depend on effective coordination, accountability, and the ability to translate ambitious funding targets into measurable improvements in the lives of millions of Nigerians.

Sources: Tribune Online, Vanguard