Economic Reforms Could Lift 50m Out Of Poverty – Shettima

Vice President Kashim Shettima said Nigeria’s ongoing economic and infrastructure reforms could lift between 40 and 50 million citizens out of multidimensional poverty within the next decade.

Shettima, represented by the Special Adviser to the President on Power Infrastructure, Mr Sadiq Wanka, gave the assurance yesterday at the 2025 Nextier Development Festival (DevFest) in Abuja, themed, “Ending Poverty in Nigeria.”

According to him, consistent application of government policies will sustain GDP growth, reduce inequality, crush poverty, lower inflation and stabilise the naira.

He expressed optimism that inflation could fall to single digits by 2026.

“This is our compact. This is our promise. We are laying the groundwork for a Nigeria where prosperity is not a promise, but a reality,” he said.

Shettima noted that reforms yielded tangible results, citing improved sovereign ratings, more substantial foreign exchange reserves, trade surpluses and increased manufactured exports.

For his part, Nextier’s partner, Dr Ndubuisi Nwokolo, warned that tackling poverty required deeper structural solutions beyond short-term handouts and cash interventions.

Similarly, the European Union Ambassador to Nigeria and ECOWAS, H.E. Guatier Mignot, described poverty reduction as a political, social and economic imperative.

He stressed the need for job creation, particularly in rural areas where poverty rates are 72 per cent.