President Bola Tinubu has unveiled a $3.05 billion social investment package aimed at reducing poverty, strengthening human capital development and expanding economic opportunities across Nigeria.
The programmes, supported by the World Bank, are designed to ensure that the benefits of the administration’s ongoing economic reforms translate into improved living standards for millions of Nigerians.
The President, who was represented by the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, launched the initiatives in Abuja on Wednesday.
Tinubu said the intervention forms part of a coordinated national strategy to reduce poverty, build resilience and develop the human capital needed to achieve Nigeria’s ambition of becoming a $1 trillion economy by 2030.
The funding package comprises $1.25 billion for the Nigeria Community Action for Resilience and Economic Stimulus Additional Financing (NG-CARES AF), $300 million for the Solutions for Internally Displaced Persons and Host Communities (SOLID) Programme, and $1.5 billion for the Human Capital Opportunities for Prosperity and Equity (HOPE) Programme.
Describing the initiatives as “promises kept” under the Renewed Hope Agenda, Tinubu said the programmes are designed to protect vulnerable Nigerians, empower communities and promote inclusive national development.
He noted that while the administration’s macroeconomic reforms are beginning to yield positive results, their true success should be measured by improvements in the welfare and quality of life of ordinary Nigerians.
“Our objective is to ensure that economic recovery is reflected not only in national statistics but also in the daily lives of households across the country,” the President said.
Tinubu explained that the Renewed Hope Development Plan (2026–2030) provides the blueprint for economic diversification, stronger sub-national governments and human capital development, with the newly launched programmes serving as practical vehicles for implementing those goals.
Highlighting recent economic gains, he said Nigeria recorded 11.2 per cent real GDP growth last year, while per capita income in dollar terms grew by nearly 10 per cent. He also noted that the country’s foreign reserves have exceeded $50 billion, while inflation has moderated significantly from its 2024 peak.
According to the President, the federal government’s expanded cash transfer programme has already reached about 15 million vulnerable households, lifting an estimated 7.5 million Nigerians out of poverty.
He said the NG-CARES Additional Financing programme would expand support for smallholder farmers, micro, small and medium-sized enterprises (MSMEs), and vulnerable communities to improve livelihoods, food security and resilience against economic shocks.
Tinubu added that the SOLID programme would move beyond emergency humanitarian assistance by investing in livelihoods, community infrastructure, social services and long-term resilience for internally displaced persons and their host communities.
He explained that the HOPE programme, which comprises HOPE-GOV, HOPE-PHC and HOPE-EDU, would focus on governance reforms, primary healthcare and foundational education while improving accountability and service delivery at state and local government levels.
The President stressed that the three initiatives should be implemented as complementary programmes rather than standalone interventions, noting that investments in livelihoods, healthcare, education and social protection would reinforce one another in driving sustainable development.
He urged state governments, local authorities, development partners and implementing agencies to ensure effective collaboration and accountability in executing the programmes.
Earlier, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, described the initiatives as flagship interventions carefully designed to address both longstanding and emerging development challenges across the country.
Bagudu said the programmes would strengthen Nigeria’s social protection systems, expand economic opportunities, improve human capital outcomes and provide lasting support for vulnerable communities.
He recalled that the original NG-CARES programme, implemented between 2021 and 2025 with $750 million in funding, reached approximately 17.6 million direct beneficiaries, including poor households, farmers, micro and small businesses, as well as communities affected by the COVID-19 pandemic and other socio-economic shocks.
According to him, the additional financing will further deepen livelihood support, improve food security and strengthen community resilience nationwide.
The minister noted that the SOLID programme adopts a development-focused approach to supporting internally displaced persons by restoring livelihoods, expanding infrastructure, improving access to social services and promoting social cohesion.
He described the HOPE initiative as a strategic investment in governance, healthcare and education, stressing that human capital remains Nigeria’s greatest asset.
Bagudu said the combined impact of the three programmes provides an integrated framework for tackling poverty and vulnerability while ensuring that the country’s economic reforms are complemented by targeted social investments.
He, however, emphasized that the success of the initiatives would depend on transparency, prudent financial management and effective coordination among implementing agencies.
The minister called on all stakeholders to ensure that every dollar allocated to the programmes is deployed responsibly to deliver measurable improvements in the lives of Nigeria’s poorest and most vulnerable citizens.
