Can Buhari Lift 100 Million Nigerians Out Of Poverty With N-Power?
July. 01, 2020
President Muhammadu Buhari has hinted on an ambitious plan to lift 100 million Nigerians out of poverty in the next 10 years. Daily Post reports that the president said this in a video message during a high-level meeting of the UN General Assembly on Tuesday.
Currently, Nigeria has the highest number of poor people in the world. Unemployment is at an all-time high. Though successive governments have claimed to have embarked on employment schemes, unemployment remains an albatross in Nigeria.
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The Buhari administration has embarked on social employment schemes like N-Power and Tradamoni so far. He has so planned to launch another scheme dubbed the Special Public Works Programme which seeks to engage 1000 youths in all 774 local governments in Nigeria. The programme will pay them 20,000 per month.
During the virtual meeting, Buhari said, "Nigeria attaches great importance to poverty eradication. It is for this reason that in May 2019, on my inauguration for 2nd term in office, our government committed itself to starting a new programme of lifting a 100 million Nigerians out of poverty within a 10-year period,”
Can Buhari deliver on this promise with schemes like N-Power and Special Public Works Programme? We do not think so. How in the world can anyone scale up on a monthly stipend of N30,000 (N-Power) or N20,000 (Special Works Programme)?
Maybe the presidency is very much unaware of the depth of poverty and unemployment in Nigeria. 48 hours after the N-Power portal was open for registration, we are told that over 1 million people registered for it. If this is not a telltale sign of a systemic problem of poverty, we don't know what is.
Source: Sahara Reporters
The answer to poverty in Nigeria is not through N-Power, unfortunately. N-Power can only do as much as allow people to subsist. In the present economic realities in Nigeria, no one can make any worthwhile investment from that.
The answer to poverty in Nigeria is through industrialisation. The ripple effects of industrialisation are unmatched. Nigeria has very rich mineral deposits. Why has Nigeria not built industries on these minerals all these years? This is something we should think about deeply.
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