How Nigeria is set to make progress in poverty alleviation through the SIP

In a bid to accelerate Nigeria’s poverty reduction efforts in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun in Abuja presided over a pivotal meeting of the Presidential Panel on the Social Investment Program (SIP) aimed to assess progress and ensure the effective implementation of social investment policies

It was also convened to provide updates on the progress of the Direct Benefit Transfer (DBT) programme, introduce newly-appointed members of the National Social Investment Program (NSIP), as well as to discuss the Youth Employment Benefits scheme, including key design considerations.

During the discussions, a comprehensive report on the committee’s activities was presented, showcasing significant strides in the direct transfer of funds to the nation’s poorest and most vulnerable citizens. The presentation also included the introduction of a new draft for the Youth Employment Benefits scheme aimed at addressing youth unemployment through targeted interventions.

HM Edun underscored the importance of transparency and accountability in the implementation of social investment policies. He emphasized the need for platforms that allow citizens to monitor and verify the progress of these interventions, ensuring that they are effectively reaching those in need.

With the Presidential Panel’s meeting, Nigeria’s social investment landscape is poised for significant enhancement. Under the Honourable Minister’s guidance, the panel’s efforts will ensure that social investment programs, such as the Direct Benefit Transfer and Youth Employment Benefits scheme, are optimized to reach the most vulnerable citizens.