Thursday, May 13

FEC Approves National Poverty Reduction Strategy (NPRGS)

The Federal Executive Council (FEC) today approved the National Poverty Reduction with Growth Strategy (NPRGS): A strategy for accelerated reduction in poverty through economic growth, redistributive (i.e. Social Protection) programs and shared prosperity.

The NPRGS is anchored on four pillars:

1. Macroeconomic stabilization

2. Industrialization

3. Structural Policies and Institutional Reforms

4. Redistributive Policies and Programmes (Social Protection)

The #NPRGS will support the Buhari Administration’s goal of lifting 100 million Nigerians out of poverty within a decade.

 

A National Steering Committee (NSC), chaired by VP @ProfOsinbajo, shall be the overarching body for anchoring collaborative efforts across Federal MDAs, States and Local Govts, Development Partners, CSOs and private sector actors, for the implementation of the #NPRGS

 

The @FinMinNigeria shall serve as the Secretariat of the Steering Committee, and shall monitor the implementation of the decisions of the Committee. #NPRGS

The #NPRGS was developed by the Presidential Economic Advisory Council (PEAC), chaired by Dr. Doyin Salami.

Other members:

Dr Muhammad Sagagi(Vice Chair)
Prof Ode Ojowu
Dr Shehu Yahaya
Dr Iyabo Masha
Prof Chukwuma Soludo
Mr Bismarck Rewane
Dr Mohammed Adaya Salisu (Secretary)

 

One highlight of the #NPRGS is a proposal—also APPROVED—for establishment of a Nigeria Investment and Growth Fund #NIGFund, which will invest in commercially viable projects that will promote growth and innovation, enhance local value addition, create employment, promote exports.

Government of Nigeria

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