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Nigerians have been lifted out of poverty by Buhari's administration - Osinbajo

Nigerians have been lifted out of poverty by Buhari's administration - Osinbajo

- Vice President Yemi Osinbajo has reacted to the statement credited to the British prime minister, Theresa May

- May had stated that Nigeria had the largest population of poor people in the world

- Osinbajo says in the last three years, the administration of President Buhari has lifted millions of Nigerians out of poverty

Following the statement by British prime minister Theresa May that Nigeria had the world's largest population of poor people, Vice President Yemi Osinbajo has said that the current administration had lifted millions of Nigerians out of poverty in the last three years.

The Nation reports that the vice president made the statement in Abeokuta, Ogun state, on Thursday, August 30, at the 17th Joint Planning Board and National Council on Development Planning (NCPD). gathers that Osinbajo identified “social investment initiatives” as the vehicles used to pull Nigerians, in their millions, away from the poverty trap.

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According to Osinbajo, the administration laid a solid foundation for a resilient and competitive economy, provided infrastructure and opened space for private investment to accelerate growth and development through the Economic Recovery and Growth Plan (ERGP) initiative.

The vice president, who was represented by the minister of budget and planning, Senator Udoma Udo Udoma, said: “We are proud of the successes recorded in the agricultural sector. The revitalisation of our fertiliser blending plants alone has saved the country over $200 million annually in foreign exchange and over N60 billion in budgetary provisions for fertiliser subsidies.

“This has also made it possible to purchase fertiliser at prices up to 30 per cent cheaper than previously available. We are importing less rice today than we did a few years ago.

“I am glad to note the partnership some states, such as Kebbi and Lagos have entered into in a bid to support the agricultural development and food security objective of the ERGP. I expect to see more of such model agricultural collaboration among other states.

“I believe that to accelerate implementation of the ERGP and deliver on its target of 7 per cent GDP growth by 2020, we need massive private investment. And that underscores the significance of the ERGP Focus Labs. I am pleased to note that this exercise has yielded positive outcome."

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Recall that previously reported that barely 24 hours ahead of her scheduled visit to Nigeria, the British prime minister, Theresa May, described Nigeria as home to the largest population of the world's poorest people.

The British prime minister on Tuesday, August 28, said that 87 million Nigerians live on less than $1.90 a day.

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