Tinubu unveils $1.25bn World Bank-supported programme

President Bola Ahmed Tinubu on Thursday launched the over $1.25 billion World Bank-supported human capital development programme aimed at reducing poverty, improving healthcare delivery, and boosting education standards in Nigeria.

Speaking while unveiling the programme in Abuja, Tinubu said, “Today, we act on the pledge of protecting the vulnerable, empowering communities, and building the human capital that will carry Nigeria forward.

“This is because positive results are emerging from our reforms. Robust growth is returning. Confidence is rising. But that progress must be felt in every household, not just in national statistics. Real prosperity means no Nigerian is left behind on a journey to a $1 trillion economy by 2030.

“What we are launching today is an additional financing of about $1.25 billion, a World Bank-supported programme that is focused particularly on smallholder farmers and small businesses.

“Over $300 million World Bank finance initiative that bridges humanitarian relief and long-term development, investing in infrastructure, livelihoods, and services for displaced persons and the communities that host them.

“This is how we will rebuild not just homes, but hope. The three-in-one programme is a $1.5 billion flagship investment in Nigeria’s greatest asset: our people,” he stated.

Represented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, Tinubu explained that through the initiatives, “we will strengthen primary healthcare, improve foundational learning in our public schools, support our teachers, and build more transparent, more effective governance at the ward level.

“It is really one strategy working together, as we are seeing here today. These programmes are not separate efforts; they are one coordinated national strategy for poverty reduction, human capital development, and community resilience. Livelihoods, healthcare, education, social protection, and support for displaced communities reinforce one another where it matters most, and that is at the grassroots.

“Through our ward-centric approach, we are aligning federal, state, and local governments around a single goal, which is making every ward a place of real service delivery, real opportunity, and real improvement in people’s lives.”

Tinubu commended the ministers of Budget and Economic Planning, Education, and Health and Social Welfare for their leadership in bringing the vision to life.

“I ask every federal, state, and local government partner, every development institution, and every implementing agency to rise to this moment along with us. We are building a Nigeria where extreme poverty is banished, where every child has access to quality education and healthcare, and where every community can withstand adversity and recover faster and stronger. That is our vision,” he stated.

In his address, the Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, explained that “the true strength of these Programmes lies in their complementarity. NG-CARES builds resilience and strengthens institutions. SOLID restores dignity, opportunity and stability to displaced persons and host communities and HOPE builds human capital required for long-term prosperity through investments in health, education and governance.

“Together, they form an integrated framework for tackling poverty and vulnerability while creating opportunities for sustainable development. They ensure that economic reforms are complemented by social investments, human capital development and targeted support for those most in need. In essence, they translate the Renewed Hope Agenda into measurable results and impact on the lives of poor and vulnerable Nigerians.

“The success of these Programmes will depend on effective coordination, accountability and commitment from all implementing institutions and stakeholders. I wish to appreciate the World Bank, development partners, the Nigeria Governors’ Forum, State Governments, implementing agencies and all partners whose support has contributed to achieving this important milestone.

“As we commence implementation, our collective responsibility remains to ensure that every intervention is delivered with the utmost sense of responsibility and accountability. These resources are intended to improve the lives of the poor and vulnerable. Accordingly, the Administration expects the highest standards of transparency, accountability, and prudent financial management in the implementation of the Programme,” he stated.

The representative of the World Bank Group, Mathew Verghis, said the initiative is aimed at improving the lives of the less privileged and people who are suffering from any kind of disaster.

ALSO READ: Friend breaks silence on physiotherapist’s final hours before death at Umahi’s residence

“These programs have been carefully designed as strategic programs to reduce poverty, to support the cost-of-living crisis that the world is witnessing, particularly as a result of the twin challenges of the Ukraine-Russia war, as well as the Middle East war, which have affected energy prices.

“Nigeria, being a major user of fertilizer, as well as petroleum and gas, whose prices are major determinants of cost, is also facing a similar shock. So, the programmes are supported by the World Bank, and we must thank them for the generous commitment.

“These programs are put in place to strengthen social protection, expand economic opportunities, improve human capital outcomes and support the poor and vulnerable communities across Nigeria. These programs are additional to the wider efforts of the government, as well as other support that is in place from both government and other development partners.”

He said the macroeconomic reforms have released remarkable resources, “some significant amount of resources for government to invest in this area. But such investment is not enough, particularly in the short run, thus the need for additional support from both the World Bank and the development partners. Secondly, Nigeria, being a federation, has all of these programs carefully designed and approved by the National Economic Council, bringing a whole-of-government approach to ensure that local governments, states, as well as the federal government, are cooperating in addressing both the twin challenges of livelihoods, the cost-of-living crisis, poverty eradication, as well as human capital development, as envisaged by our constitutional federalism, with support from the three tiers of government.”