Abuja — Former Edo State Governor, Chief John Odigie-Oyegun, has emphasized that Nigeria's wealth alone cannot eradicate poverty, highlighting the need for collective action to tackle the issue.
He made this statement while chairing the 31st Annual Lift Above Poverty Organization Development Forum in Abuja on Thursday.
Nigeria faces alarming poverty statistics: 40.1% of the population lives below the poverty line, with 29% (63 million people) in extreme poverty, surviving on less than $1.90 per day. Urban poverty stands at 28.7%, while rural poverty is 45.5%. Unemployment affects 33.3% of the population, with youth unemployment at 54.9%.
In light of these challenges, Chief Odigie-Oyegun stressed the importance of collective action, reiterating that Nigeria's wealth alone cannot solve the poverty problem.
"We have untapped potential in natural resources, yet people suffer from hunger. Our inability to manage resources has left us among the poorest, with a per capita income lower than some neighbors'," he lamented.
Senator Aliyu Sabi Abdullahi, Minister of State for Agriculture and Food Security, advocated for agricultural development and support for smallholder farmers, emphasizing innovative financing models as a solution to the poverty crisis.
"Our focus is to change this paradox where inequality persists. Nigeria has fertile land, abundant natural resources, and a youthful population. Yet, many still struggle with poverty and food insecurity. To tackle these issues effectively, we need a comprehensive approach aligned with the Renewed Hope Agenda of President Bola Ahmed Tinubu," the Minister stated.
Dr. Godwin Ehigiamusoe, the Forum's Convener, highlighted the organization's pioneering efforts in micro-insurance, micro-leasing, and rural healthcare.
He stated, "Over the years, the Forum has attracted thought leaders and policymakers who have provided insights and prescriptions for addressing our myriad development challenges.
"The challenge of poverty is enormous. Extreme poverty can only be addressed by a combination of policy and economic reforms, effective social protection initiatives, and frameworks for the social and economic empowerment of the poor."
A communiqué issued at the event recommended policy continuity, reduced governance costs, and enhanced accountability and transparency.
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It also called for expanded social safety nets, vocational education, and entrepreneurial training.
The communiqué reads, "Poverty remains a persistent challenge in Nigeria, demanding a comprehensive policy and economic reform agenda.
"Collaboration between government, private sector, and civil society is essential to empower vulnerable populations through social protection initiatives.
"Agriculture, as a key pillar of the Nigerian economy, plays a vital role in poverty alleviation and food security. The forum called for targeted support to smallholder farmers through improved access to finance, infrastructure, and markets.
"Policy continuity and sustainable reforms across successive administrations are crucial.
"Expanding social safety nets like conditional cash transfers and food bank initiatives will address the immediate needs of the poor."
Expert recommendations focused on policy reforms and agricultural development, while attendees urged civic engagement and collaborative efforts to break Nigeria's poverty cycle.
