Finance Minister joins stakeholders of SPECS as they launch National Social Protection Policy.

The Finance Minister, Zainab Shamsuna Ahmad, has reportedly joined the stakeholders of SPECS to make case for social protection.

Shamsuna said "Earlier, I joined stakeholders of SPECS to make a case for social protection; reflect on progress this administration has made in establishing a government-led social protection framework; consider what we can and frankly must do, to build on the momentum gained in recent years.

"Social protection policies, programmes, and interventions are extremely important in the reduction of poverty and inequality, particularly for vulnerable communities (including women, children and those displaced due to conflict). 

"Additionally, the potential economic impact of sustained social protection systems cannot be ignored, particularly given the clear evidentiary link between human capital development and economic growth.

"Over the last few years, we have provided targeted interventions for the most vulnerable. This innovative Government initiative (the first of its kind in Nigeria) has helped mobilize additional donor funds, most notably the World Bank National Social Safety Nets Project. 

"While we have seen a 14.4% increase in our Human Development Index value between 2005 to 2017, we know that these slight improvements will not yield the necessary long-term results without a drastic shift in a strategic direction. 

"We know from our own experience and from the extensive empirical data in this space that significant gains can be made when social protection is coordinated with macroeconomic policies. This approach is reflected in how we have integrated social protection into the ERGP. 

"National Social Investment Programme, the Economic Recovery and Growth Plan (2017 - 2020), the National Social Protection Policy, the National Social Safety Net Coordinating Office (NASSCO), have the appropriate standards to support Social Safety-Net interventions in the country. 

"With today’s formal launch of our National Social Protection Policy, we are one step closer to alleviating poverty in Nigeria and ensuring dignity for all citizens. We will ensure that no Nigerian is left behind."