The Federal Government has unveiled a $3.5 billion social investment package, backed by the World Bank, to reduce poverty, strengthen human capital, and promote inclusive economic growth across Nigeria. The initiative comes as many households continue to face the impact of global economic shocks, including the COVID-19 pandemic, the Russia-Ukraine war, and instability in the Middle East.
The $3.5 billion social investment package forms a key part of the Renewed Hope Development Plan (2026–2030). It includes the $1.25 billion NG-CARES Additional Financing Programme, the $300 million Solutions for Internally Displaced and Host Communities (SOLID) initiative, and the $1.5 billion Human Capital Opportunities for Prosperity and Equity (HOPE) programme.
Speaking at the launch, President Bola Tinubu, represented by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, said, “These are not just programmes; they are promises kept. Under a renewed hope agenda, we came into office pledging to reform our economy, secure the nation, and invest in our people. Today, we act on that pledge, protecting the vulnerable, empowering communities, and building the human capital that will carry Nigeria forward.” He added, “Real prosperity means no Nigerian is left behind on a journey to a 1 trillion US dollar economy by 2030.”
Minister of Budget and Economic Planning Senator Abubakar Atiku Bagudu described the programmes as “carefully designed strategic poverty and shock-responsive investments” that will expand social protection, improve economic opportunities, and support vulnerable communities. The NG-CARES programme builds on an earlier intervention that reached 17.6 million beneficiaries, while SOLID will help internally displaced persons and host communities rebuild their livelihoods. The HOPE programme will strengthen governance, healthcare, and education to improve long-term development.
Education Minister Dr Maruf Tunji Alausa stressed the importance of investing in learning, saying, “The biggest investment any responsible government can make in its citizens is in education. We have a president that fervently believes in education as the bedrock of our economic development.” Meanwhile, Coordinating Minister of Health and Social Welfare Professor Muhammad Ali Pate highlighted recent progress, including the revitalisation of more than 3,000 primary healthcare centres, the retraining of 78,000 health workers, and improved maternal and newborn healthcare services.
Despite the ambitious plans, many stakeholders have urged the government to ensure transparent implementation. Small business owner Marcellus Kwabe said, “If government makes the implementation of all the intervention programmes transparent, the impact will be felt everywhere. Even me who has applied for many of such support initiatives will at least benefit from one of them.” Entrepreneur Faith Adikpo also appealed for easier access, stating, “There has been so much news about government support programmes… I will apply, then get nothing… Let the federal government extend this new support programme to the grassroots. Let them make the process easy and accessible to the ordinary Nigerian so that more businesses will find help, survive and grow.”
The World Bank reaffirmed its commitment to supporting vulnerable Nigerians and small businesses, while government officials said digital tracking systems, independent audits, community oversight, and regular public reporting will improve accountability. If properly implemented, the $3.5 billion social investment package could create jobs, strengthen food security, improve health and education, and move Nigeria closer to its goal of becoming a 1 trillion US dollar economy by 2030.
Do you think stronger transparency measures will help these programmes deliver lasting benefits to ordinary Nigerians?
