FG Introduces New Poverty Reduction Programme: What Nigerians Must Know
- Abubakar Bagudu said about 10 million Nigerians would benefit from federal poverty-reduction programmes
- The Renewed Hope Ward Development Programme targets all 8,809 wards nationwide
- The government emphasised collaboration with grassroots leaders to achieve inclusive growth
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
Nigeria’s Minister of Budget and Economic Planning, Abubakar Bagudu, has said that about 10 million Nigerians are expected to benefit from the federal government’s ongoing poverty-reduction initiatives.
Bagudu disclosed this during a weekend meeting with members of the National Councillors’ Forum of Nigeria (NCFN), a body representing 8,809 councillors across local government areas nationwide, The Sun and the News Agency of Nigeria reported.
During the visit, the forum conferred on the minister the title of Grand Patron, citing his contributions to economic planning and national development.
Source: Facebook
Recognition from councillors’ forum
In a letter dated April 23, 2026, and signed by its president, Abdulrazak Sama’ila, the forum described Bagudu as a committed public servant driving inclusive development.
The group said the recognition reflects his role in strengthening governance at the grassroots level and expressed readiness to collaborate more closely with the ministry.
“Your dedication to public service and to the development of our country makes you a perfect fit for this prestigious position,” the forum stated.
Renewed focus on ward-level development
Responding, Bagudu said the federal government is prioritising policies that place local communities at the centre of economic planning under the administration of President Bola Tinubu.
He highlighted the Renewed Hope Ward Development Programme as a key initiative aimed at boosting economic activity across all 8,809 wards in the country.
“This programme seeks to stimulate economic activity at the ward level by identifying dominant commercial endeavours and providing targeted support where it is most needed,” Bagudu said.
According to the minister, the programme seeks to identify dominant economic activities within each ward and provide targeted support tailored to local needs.
Bagudu explained that the initiative is projected to directly and indirectly benefit about 10 million Nigerians.
He added that the programme forms part of broader efforts to reduce poverty, expand economic opportunities and improve livelihoods, particularly at the grassroots level.
Call for collaboration and support
The minister also commended councillors for backing the federal government’s reform agenda, noting that their role is critical in ensuring policies translate into tangible outcomes at the community level.
He stressed that sustained collaboration with grassroots leaders will be essential to achieving inclusive growth and strengthening governance structures nationwide.
Source: Getty Images
IMF warns Nigerians of rising hardship
Legit.ng earlier reported that the International Monetary Fund (IMF) cautioned that Nigerians might face increased economic hardship in the near future, citing rising food and transportation costs amid ongoing global uncertainties.
According to the Fund, these pressures are already affecting household incomes, even as higher crude oil prices offer prospects for improved government revenue. Crude oil prices above $113 per barrel could boost Nigeria’s revenue beyond budget projections.
Experts warned that oil windfalls might not translate to economic relief without disciplined fiscal management.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
