The Nigerian Ministry of Finance and the Social Protection Development Partner Group (DPG) organized a summit to discuss the crucial role of social protection in human capital development.
Jerrymusa.com reports that the event focused on how social protection can provide essential services like education, health, and nutrition, leading to economic stability, poverty reduction, and inclusive growth.
According to De Luca, the EU’s representative, “Investing in social protection means investing in our collective future, fostering resilience, and ensuring that every individual has the opportunity to contribute meaningfully to society despite background, location or uncertainties.”
World Bank Report
He cited the World Bank’s report, which highlighted that “104 million or 46 per cent” of Nigerians live in poverty in 2023.
The EU is committed to supporting Nigeria’s social protection sector, allocating “€46 million” to strengthen systems and design social safety nets programs.
The EU’s intervention aims to enhance the social protection system, ensuring “interoperability of related databases” and functional social registers.
It will also provide safety nets to climate change-affected communities in three North East states, in partnership with UNICEF and GIZ.
De Luca reiterated the EU’s commitment to collaborating with the Federal Government to address poverty and promote human capital development in Nigeria.