In a significant move to alleviate poverty, the Nigerian government has announced a partnership with several financial institutions to provide grants and loans to Nigerians interested in the digital economy and creative enterprises. This initiative aims to lift 50 million Nigerians out of poverty by 2027.
The announcement was made on Monday during an interactive session with journalists in Abuja by Emmanuel Aondoakaa, the national coordinator of Idea Lab Agency, one of the agencies involved in this initiative. Idea Lab specializes in financial inclusion and is recognized as a key platform by the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) for grant and loan disbursement.
Aondoakaa explained that Idea Lab, along with other chosen platforms, will play a crucial role in the government’s massive poverty eradication efforts. The agency is empowered through the Bank of Industry to train, prepare, and recruit agents and beneficiaries for local and international jobs. Additionally, they aim to export talents and commodities while providing access to grants, loans, employment opportunities, and scholarships.
“Its programs are fully supported by the Federal Government of Nigeria and the World Bank Group, utilizing advanced technologies to meet the needs of Nigerians, especially entrepreneurs, in terms of access to finance, markets, and technology transfer initiatives,” Aondoakaa stated.
He highlighted some of the innovative technologies employed by Idea Lab for financial inclusion and intervention programs, such as the Rex Agent application, the Scholarship and Aid Website, and the Job Gurus Website. These tools are designed to facilitate the efficient and effective distribution of financial aid and support to eligible Nigerians.
The initiative underscores the government’s commitment to leveraging technology and financial partnerships to drive economic empowerment and significantly reduce poverty across the country.
