President Muhammadu Buhari said ongoing efforts to reduce poverty in the country would continue to grow, with 1.6 million poor and vulnerable households, comprising more than 8 million individuals currently benefiting from the Conditional Cash Transfer programme while N300 billion has been disbursed to farmers.
Speaking virtually at the opening ceremony of the ongoing 14th annual conference of the CIBN bling and finance conference in Abuja, the president said the National Social Register of poor and vulnerable Nigerians had 32.6 million persons from 7 million poor and vulnerable households identified, imploring bankers to play a stronger role in improving livelihoods.
“From this number, 1.6 million poor and vulnerable households, comprising more than 8 million individuals are currently benefiting from the Conditional Cash Transfer program, which pays a bi-monthly stipend of N10, 000 per household,’’ he said.
To further strengthen recovery and enable more Nigerians, president Buhari said, last year, he approved the establishment of InfraCo Plc, a world-class infrastructure development vehicle, wholly focused on Nigeria, with combined debt and equity take-off capital of N15 trillion, managed by an independent infrastructure Fund Manager.
“The Solar Power Naija project was launched in April 2021 with the aim of delivering five million off-grid solar connections to Nigerian households. In May 2021, the Rural Electrification Agency announced the planned deployment of solar-powered grids to 200 Primary Health Centres and 104 Unity Schools nationwide.
“Under the Family Homes Fund Limited, Social Housing programme incorporated by the Federal Government of Nigeria, more than two thousand hectares of land with title documents have been issued by 24 states with the capacity to accommodate about 65,000 new homes. The Central Bank of Nigeria is providing a N200 Billion financing facility, with a guarantee by the Federal Government,’’ he said.
He commend the financial services industry for its interventions and contributions towards the promotion of financial inclusion and literacy in our country. And more importantly, the roles played by the banks in fostering economic growth of the country.