Federal Government Announces Plan to Lift 35m People out of Poverty, Create 21m New Jobs by 2025

Federal Government Announces Plan to Lift 35m People out of Poverty, Create 21m New Jobs by 2025

  • The administration of president, Muhammadu Buhari, has promised to lift 35 million Nigerians out of poverty
  • The promise is contained in the new launched National Development Plan (NDP) and also includes providing 21 million jobs within the next three years
  • The president has consistently promised to lift 100 Nigerians out of poverty and this new plans is to 2025

The Federal Government has projected that its National Development Plan (NDP) will lift 35 million Nigerians out of poverty and create 21 million jobs within the next three years.

The federal and state governments as well as the private sector will fund the plan, with an investment size of N348.1trillion.

The funders from the public sector will contribute N49.7trillion, subnational will contribute N20.1trillion, while N29.6 trillion will come from the Federal Government.

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Federal government announces plan to lift 35m people out of poverty, create 21m new jobs in 3 years
President Buhari launched the NDP plan on Wednesday December 2021. Credit: statehouse
Source: Facebook

The private sector is projected to contribute N298.3trillion to funding the Plan.

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The Guardian newspaper reports that the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, who disclosed this in Abuja, added that the investment is expected to result in Nigeria achieving improved competitiveness of the economy with a Gross Development Product growth of five to six per cent.

She said:

“At least 35 million people will be lifted out of poverty by 2025. 21 million full time jobs will be generated for the young workforce to leveraged, and this will significantly enhanced capacity at the national and sub-national levels."

She further explained that the strategic objectives of the Plan include to establish a strong foundation for a concentric diversified economy with robust MSME growth and a more resilient business environment.

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Zainab added:

"We aim to invest in critical physical, financial, digital and innovation infrastructure; build a solid framework and enhance capacities to strengthen security and ensure good governance; enable a vibrant, educated and healthy populace."

We are ready for business: President Buhari

Meanwhile, President Muhammadu Buhari has declared to global investors that Nigeria is ready for business.

He made this declaration in France as he looks to attract more international businesses to Nigeria's economy.

Legit.ng reported that Nigeria is desperately in need of foreign investment as oil revenues continue to decline.

Source: Legit.ng

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