Tinubu unveils $3bn social protection, human capital programmes

President Bola Tinubu has launched five social protection and human capital development programs totaling approximately $3 billion, signaling a new phase of his administration's "Renewed Hope Agenda." The initiatives are designed to directly combat poverty and ensure that the benefits of economic reforms reach ordinary Nigerians, rather than being measured solely by macroeconomic statistics.

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The success of our economic reforms will ultimately be judged by their impact on the lives of ordinary Nigerians rather than by macroeconomic statistics.

Tinubu emphasized that the success of his economic reforms will be judged by their impact on citizens' lives, stating a goal to make extreme poverty a thing of the past. He highlighted recent economic gains, including an 11.2% real GDP growth and a nearly 10% per capita income increase in USD terms last year, with similar projections for the current year. Foreign reserves have reportedly surpassed $50 billion, and inflation has fallen significantly.

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These are not abstract figures. They are the foundation for the next phase of our national development: making sure this recovery reaches every Nigerian.

The newly unveiled programs build upon existing efforts, such as expanded cash transfers that have already assisted 15 million vulnerable households. Among the key initiatives are NG-CARES, an additional $1.25 billion World Bank-supported program focused on smallholder farmers and businesses, and SOLID, a $300 million World Bank project investing in infrastructure and livelihoods for displaced persons and their host communities.

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Through expanded cash transfers, we have already reached 15 million vulnerable households, lifting an estimated 7.5 million people out of poverty. Today’s programmes build directly on that momentum.

Additionally, the HOPE program represents a $1.5 billion investment across three areas: HOPE-GOV, HOPE-PHC, and HOPE-EDU. These components aim to bolster primary healthcare, enhance foundational learning in public schools, support teachers, and improve governance at the ward level. The President, represented by the Minister of Finance, described these interventions as "promises kept," underscoring the government's commitment to delivering tangible improvements to citizens' well-being.

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This is how we reveal not just hopes, but hope.