President Tinubu Launches $3.05 Billion Poverty Reduction Package

President Bola Ahmed Tinubu launched a $3.05 billion package of social protection and human capital development programs on July 16, 2026, in Abuja. The initiatives are part of the Renewed Hope Agenda, designed to translate macroeconomic gains—including foreign reserves exceeding $50 billion—into tangible improvements for ordinary Nigerians. The strategy serves as a whole-of-government response to a global cost-of-living crisis exacerbated by conflicts in the Middle East and between Russia and Ukraine.

The funding is divided into three primary components. The NG-CARES Additional Financing allocates $1.25 billion for smallholder farmers and small businesses. The SOLID initiative provides $300 million for internally displaced persons and host communities. The HOPE program, totaling $1.5 billion, integrates governance, primary healthcare (HOPE-PHC), and education (HOPE-EDU).

Specific targets include the revitalization of over 3,000 primary healthcare centers to benefit 40 million people and a $562 million education initiative targeting 30 million children across 65,000 public schools. These World Bank-backed programs will be implemented through a ward-based framework across federal, state, and local governments to support Nigeria's goal of becoming a $1 trillion economy by 2030.