Minister decries insufficient budget to combat poverty in Nigeria

Dr. Edu conveyed her sentiments while appearing before the National Assembly joint Committee on Humanitarian Affairs and Poverty Alleviation to defend the budget of her ministry.

She disclosed that the ministry had been allotted an overhead ceiling of ₦532.5 billion, indicating a 28% increase compared to the 2023 budget. The increase was purportedly intended to counteract the effects of inflation.

Addressing the committee, Dr. Edu emphasized that the 28% rise in the overhead ceiling did not adequately match the prevailing 27.33% inflation rate in the economy. Moreover, she highlighted a substantial reduction in the capital budget ceiling, decreasing from ₦3.7 billion in 2022 to a mere ₦1.3 billion in 2023, constituting a significant 71% reduction.

Expressing her concerns, the minister remarked, "The pittance capital ceiling of ₦1.5 billion, an increase from the current year's budget, does not in any way match the mandate of the ministry to shrink poverty in Nigeria. Simply put, there was over a 71% reduction between 2022 and 2023, so the minimal increase between 2023 and 2024 does not align with the mandate we have been given."

Dr. Edu appealed to the committee for a reconsideration of the budget allocation, stating, "At this point, I will plead humbly and sincerely with the chairman, co-chair, and members of this great committee that as we look into Nigeria as a nation, the burden lies on us to actually tackle the issue of poverty with sincerity."

She asserted that without an appropriate increase in the budget, the ministry would be incapable of fulfilling its mandate effectively, rendering the proposed allocations mere words without corresponding actions.

Highlighting potential solutions, Dr. Edu informed the committee about several special projects within the ministry aimed at meeting its targets. She also disclosed that the Federal Executive Council had recently approved the establishment of the Humanitarian and Poverty Eradication Trust Fund.

This fund is expected to receive contributions from the Federal Government, donor agencies, development partners, the private sector, and other innovative resource mobilisation funds.

In response, Chairman of the Committee, Sen. Idiat Adebule, assured Dr. Edu that the committee would thoroughly scrutinise the budget estimates to ensure the concerns raised are adequately addressed.