Tinubu Unveils $3.05bn World Bank-Backed Programmes to Deepen Poverty Reduction, Human Capital Investment

President Bola Tinubu has unveiled $3.05bn World Bank Programmes, signalling a major push to convert the gains of recent economic reforms into improved livelihoods, stronger social protection and enhanced human capital development across Nigeria.

The funding package comprises the Nigeria Community Action for Resilience and Economic Stimulus Additional Financing (NG-CARES), the Solutions for Internally Displaced and Host Communities (SOLID) programme, and the Human Capital Opportunities for Prosperity and Equity (HOPE) initiative. Together, the programmes are expected to support poverty reduction, healthcare delivery, education outcomes and community resilience.

Speaking at the launch in Abuja through the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the President said the interventions mark a new phase in the implementation of the administration’s Renewed Hope Agenda by complementing macroeconomic reforms with targeted social investments.

$3.05bn World Bank Programmes Target Inclusive Economic Growth

Tinubu said positive outcomes were beginning to emerge from the government’s reform agenda, including improving economic growth prospects and rising investor confidence, but stressed that economic gains must translate into better living standards for Nigerians.

According to him, the newly launched programmes are designed to ensure that economic stability leads to broader prosperity and improved welfare outcomes.

The package includes approximately $1.25 billion for NG-CARES, $300 million for the SOLID programme and $1.5 billion for the HOPE initiative, making a combined financing envelope of about $3.05 billion supported by the World Bank.

For investors and development economists, the programmes reflect a dual-track policy approach in which fiscal and monetary reforms are complemented by targeted interventions aimed at protecting vulnerable populations and strengthening human capital.

The Minister of Budget and Economic Planning, Abubakar Bagudu, described the programmes as strategic interventions designed to convert macroeconomic reforms into measurable improvements in the lives of poor and vulnerable Nigerians.

According to him, the initiatives will strengthen social protection systems, expand economic opportunities and improve human capital outcomes across the country.

Bagudu noted that while recent reforms had created additional fiscal space for government spending, external financing remained necessary to cushion the effects of economic shocks and accelerate development outcomes.

The original NG-CARES programme, implemented between 2021 and 2025, reportedly reached 17.6 million beneficiaries, including poor households, farmers and small businesses affected by economic disruptions. The additional financing is expected to expand livelihood support, strengthen food security and enhance community resilience.

$3.05bn World Bank Programmes to Strengthen Healthcare and Education

A significant portion of the funding will be directed towards healthcare and education through the HOPE programme.

The Coordinating Minister of Health and Social Welfare, Muhammad Pate, said reforms in the health sector were already delivering measurable outcomes, citing the revitalisation of more than 3,000 primary healthcare centres and the retraining of about 78,000 health workers.

He added that quarterly visits to primary healthcare centres had risen to 45.5 million from fewer than 10 million in 2023, highlighting growing utilisation of healthcare services.

In the education sector, the Minister of Education, Maruf Alausa, said the education component of the HOPE programme represents a $552 million investment backed by the World Bank and the Global Partnership for Education. The programme is expected to benefit nearly 30 million children, support approximately 500,000 teachers and improve learning outcomes in about 75,000 public schools nationwide.

The World Bank Country Director for Nigeria, Matthew Verghis, described the programmes as an important investment in Nigeria’s people and reaffirmed the institution’s commitment to supporting implementation efforts.

For the Nigerian economy, the programmes could help bridge the gap between macroeconomic stability and inclusive growth by targeting sectors that directly influence productivity, workforce quality and household welfare.