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Ongoing FG’s Reforms to Lift N50 million Nigerians from Poverty in Ten Tears

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Ongoing FG’s Reforms to Lift N50 million Nigerians from Poverty in Ten Tears

By: Michael Mike

Vice President Kashim Shettima has said the Federal Government’s ongoing reforms and development initiatives are aimed at lifting between 40 and 50 million Nigerians out of multidimensional poverty within the next decade.

The Vice President who was represented by the Special Adviser to the President on Power Infrastructure, Sadiq Wanka, at DevFest2025, themed “Ending Poverty in Nigeria,” reinforced the consensus that eradicating poverty is possible if Nigeria sustains reforms, strengthens collaboration, and embraces bold, inclusive strategies organized by Nextier, said: “If we remain consistent in applying these policies, GDP growth will soar, inequality will reduce, food and multidimensional poverty will fall, and inflation could reach single digits by 2026. Overall, our reforms could free 40 to 50 million Nigerians from poverty within a decade, enabling them to fulfil their God-given potential,”

Unveiling the government’s “Poverty Exit Plan”, Shettima described the strategy as both a moral obligation and a strategic compact to ensure no Nigerian is left behind. The plan, he explained, rests on three pillars: investing in infrastructure, driving economic and financial inclusion, and transforming agriculture from subsistence to value-driven, mechanised production.

The Vice President highlighted positive economic indicators already taking shape: external reserves rising to $42 billion, six consecutive months of inflation decline, Naira stabilisation under Central Bank policies, and a 44.3% trade surplus increase in H1 2025, amounting to over N10 trillion.

He disclosed that more than N330 billion has been disbursed to 8.1 million households through Conditional Cash Transfers, while the Nigerian Education Loan Fund (NELFUND) has provided over N80 billion in loans to 400,000 students. In agriculture, the National Agricultural Development Fund (NADF) has attracted over $1 billion to boost mechanisation and value addition.

Shettima emphasized early reforms like petrol subsidy removal and forex unification, describing them as bold but necessary steps to create fiscal space for investments.

“The removal of the petrol subsidy and the unification of the foreign exchange market were bold acts of economic surgery, essential to stabilize our nation and set it on a path of sustainable growth.”

He explained that the plan rests on three strategic pillars investment in infrastructure, promotion of inclusion, advancing agriculture and value addition.

“Our Poverty Exit Plan is multifaceted and relentless. It is built on three strategic pillars: investing in critical infrastructure, driving financial and economic inclusion, and encouraging value-addition and mechanized agriculture.”

Shettima highlighted early positive outcomes, including higher reserves, narrowing fiscal deficit, rising non-oil exports, and stabilizing inflation, projecting that poverty and inequality could be drastically reduced by 2026.

“If we remain consistent in our application of these policies, our government is confident that we will see GDP growth soaring, inequality reducing drastically, food and multidimensional poverty crashing, and inflation potentially reaching single digits by 2026.”

The Head of Delegation of the European Union to Nigeria and ECOWAS, Ambassador Gautier Mignot, underscored that poverty reduction must be driven primarily by sound domestic policies. International partners, he noted, can support but cannot substitute local leadership.

He said: “Poverty reduction is not just a moral duty; it is a political, social, and economic imperative. It reduces instability, strengthens democracy, and drives productivity.”

He stressed the need to listen to the voices of poor communities, not just statistics, and pointed to Nigeria’s entrepreneurial spirit—especially among women—as a powerful force for poverty reduction. He revealed that the EU has committed over €87 million to strengthen Nigeria’s social safety nets and resilience programmes, alongside €150 million in humanitarian support to address food insecurity affecting 33 million Nigerians.

From the state level, Professor Chidiebere Onyia, Secretary to the Government of Enugu State, shared lessons from the state’s multi-sectoral interventions in education, agriculture, and health, which he said are shifting the focus from poverty reduction to poverty eradication.

In his welcome remarks, Dr. Ndubuisi Nwokolo, Partner at Nextier Development Foundation, stressed the need to move beyond short-term fixes and token interventions.

“Money alone does not eradicate poverty. Neither do rice distributions nor handing out sewing machines. We must dig deeper and embrace sustainable, evidence-based solutions,” he said.

Nwokolo urged stakeholders to scale up local innovations, harness Nigeria’s youthful population, and adopt a whole-of-society approach that integrates government, civil society, private investors, and academia.

Patrick Okigbo III, Founding Partner of Nextier, echoed this call, noting that the festival was designed to bring together thoughtful leaders and innovators to co-create practical solutions.

“We refuse to accept that poverty is unsolvable. The time to end it is now, with the right partnerships, policies, and political will,” Okigbo said.

With 40% of Nigerians—over 82 million people—still below the poverty line, the challenge remains daunting, but stakeholders agreed that a mix of consistent policies, grassroots innovations, and international cooperation could set the country on a path to shared prosperity. Nextier Push For Reforms To End Poverty in Nigeria

Meanwhile, the nation’s fight against poverty received a renewed boost on Tuesday as government leaders, development partners, academics, and civil society actors converged at the Nextier Development Solutions Festival (DevFest2025) in Abuja to chart bold pathways for poverty eradication.

Ongoing FG’s Reforms to Lift N50 million Nigerians from Poverty in Ten Tears

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Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer

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Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer

By: Michael Mike

The government of Cuba has intensified accusations against the United States over the island’s worsening electricity and economic crisis, while cautiously welcoming reports of a proposed $100 million American aid package amid growing humanitarian concerns.

In separate statements issued this week, Cuban President Miguel Díaz-Canel and government officials argued that the country’s severe power shortages, fuel scarcity, and economic hardship are direct consequences of decades-long U.S. sanctions and what Havana described as an increasingly aggressive “energy blockade.”

The latest developments come as Cuba experiences one of its most difficult periods in recent years, marked by prolonged blackouts, shortages of food and medicine, rising inflation, and mounting public frustration.

Díaz-Canel said the situation affecting Cuba’s National Power System had become “especially tense,” with authorities forecasting a deficit of more than 2,000 megawatts during peak evening demand.

According to the Cuban leader, fuel shortages alone were responsible for preventing the generation of at least 1,100 megawatts of electricity, significantly worsening blackouts across the country.

He accused Washington of deliberately obstructing fuel supplies to Cuba by threatening sanctions and punitive measures against countries and companies willing to trade with Havana.

“This dramatic worsening has a single cause: the genocidal energy blockade that the U.S. has imposed on our country,” Díaz-Canel declared.

The Cuban president argued that recent improvements in electricity supply during April demonstrated the direct relationship between fuel imports and power generation capacity.

He noted that the arrival of a single fuel tanker — out of the eight Cuba reportedly requires monthly — temporarily reduced electricity deficits and mitigated blackouts, though outages did not disappear entirely.

Díaz-Canel further accused sections of the U.S. media and political establishment of attempting to portray Cuba’s economic crisis as solely the result of government mismanagement while ignoring the impact of sanctions and economic restrictions.

According to him, neither the decades-old U.S. embargo nor the additional sanctions imposed during the administration of former President Donald Trump had succeeded in overthrowing the Cuban Revolution.

He alleged that more recent executive measures targeting fuel supplies, foreign trade, and investment in Cuba were specifically designed to increase suffering among ordinary citizens and provoke unrest against the government.

Despite the criticism, Havana has also reacted cautiously to reports that the United States Department of State had formally proposed an aid package valued at $100 million for Cuba.

In a separate government statement, Cuban authorities said it remained unclear whether the proposed assistance would come in the form of direct financial support or material aid such as fuel, food, or medicine.

The Cuban government said it was prepared to consider foreign aid offered in good faith and expressed openness to working with the Catholic Church in implementing humanitarian support efforts.

“We are willing to hear the details of the offer and how it would be implemented,” the statement said, while warning against any attempt to use humanitarian assistance for political leverage.

Havana maintained that the most meaningful support Washington could provide would be the easing of economic, commercial, financial, and energy restrictions imposed on the island.

Cuban officials argued that sanctions had intensified “as never before” in recent months, severely affecting nearly every sector of the economy and worsening living conditions for millions of citizens.

The latest exchange reflects the complicated and often confrontational relationship between Havana and Washington, which has remained strained for more than six decades despite intermittent attempts at diplomatic rapprochement.

While Cuba insists that U.S. sanctions are the central driver of its current crisis, critics of the Cuban government continue to point to structural inefficiencies, state control of the economy, and policy failures as major contributors to the country’s prolonged economic difficulties.

Nevertheless, the apparent willingness of both sides to discuss humanitarian assistance suggests a potentially significant, though cautious, opening for limited engagement amid escalating hardship on the island.

Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer

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Troops Arrest Suspected Gunrunner in Taraba State

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Troops Arrest Suspected Gunrunner in Taraba State

By: Zagazola Makama

Troops of Operation Whirl Stroke (OPWS), in collaboration with Defence Intelligence Agency operatives and local vigilantes, have arrested a suspected gunrunner in Ardo-Kola Local Government Area of Taraba State.

Security sources said the arrest was made at about 7:45 a.m. on May 13 during an intelligence-led operation at Iware community in the area.

The suspect was reportedly apprehended following credible intelligence linking him to arms trafficking activities within the Amaseyo general area.

Preliminary interrogation revealed that the suspect was allegedly involved in illegal arms dealing, prompting his immediate arrest by the joint security team.

The suspect is currently in custody and undergoing further investigation, while security agencies say efforts are ongoing to dismantle arms trafficking networks operating within the state and surrounding areas.

Troops Arrest Suspected Gunrunner in Taraba State

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Troops Rescue Kidnap Victim During Patrol in Kogi

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Troops Rescue Kidnap Victim During Patrol in Kogi

By: Zagazola Makama

Troops of the Nigerian Army under Operation MESA have rescued a kidnap victim abandoned by suspected terrorists along the Obajana–Jakura–Tajimi axis in Lokoja Local Government Area of Kogi State.

Security sources said the rescue operation was carried out at about 9:00 a.m. on May 13 by troops of 12 Brigade during a fighting patrol along the old Obajana–Jakura–Tajimi road.

According to the report, the troops discovered the victim after suspected kidnappers abandoned him while fleeing from the advancing security personnel.

The rescued victim was subsequently reunited with his family after the operation.

Security patrols and clearance operations have continued along the route and adjoining communities as part of ongoing efforts to combat kidnapping and other criminal activities in the area.

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