The Federal Executive Council (FEC) has approved the introduction of a policy on National Poverty Reduction and Growth Strategy for Nigeria.

Special Adviser to the President on Media and Publicity, Mr Femi Adesina, disclosed this to State House correspondents at the end of the weekly FEC meeting chaired by President Muhammadu Buhari.

He said the policy is a product of the submission by members of the Presidential Economic Advisory Council to the Federal Executive Council.

“The Presidential Economic Advisory Council had some weeks back submitted the National Poverty Reduction with Growth Strategy document to the Federal Executive Council and it was widely debated today and eventually passed as a conclusion,” he said.

He said the Federal Executive Council expressed concern over the poverty situation in the country and how to ameliorate the situation.

“The Federal Executive Council noted the worsening poverty situation in the country and the efforts of the federal government to redress that situation. It is not as if government is not aware that there is poverty in the land but something is being done and one of it is this National Poverty Reduction and Growth Strategy that was approved today,” he said.

He said the decision was in line with President Muhammadu Buhari’s vision of lifting 100 million Nigerians out of poverty in ten years.

“The council also noted that the President had pledged to lift 100 million Nigerians out of poverty in ten years. Actually, by June 12, that promise would be two years old. It was work in progress that would get done. The President had directed the Secretary to Government of the Federation and the Chairman, Presidential Economic Advisory Council to come up with a sustainable poverty reduction strategy and that is what is codified in this document that was passed today,” he said.

He said Vice President Yemi Osinbajo would chair the Steering Committee that would provide overall guidance for the implementation of the policy.

He said the council also approved the implementation of the strategy and its incorporation into the medium-term national development plan 2021-2025 and agenda 2050.

He said the council also directed the Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, to prepare a bill on the policy for submission to the National Assembly, for the smooth and sustainable implementation of the strategy.

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