The Centre for the Promotion of Private Enterprise (CPPE) has commended the Federal Government’s new Social Intervention Programmes.
It described the programmes as a timely policy initiative that can strengthen the legitimacy of the country’s economic reforms if implemented effectively.
The CPPE stated this in a policy brief issued on Monday by its Chief Executive Officer, Dr Muda Yusuf.
According to the group, the programmes mark an important shift in the government’s reform agenda from restoring macroeconomic stability to improving citizens’ welfare through greater inclusion and shared prosperity.
The intervention package, supported by the World Bank, comprises the Nigeria Community Action for Resilience and Economic Stimulus Additional Financing (NG-CARES AF), the Solutions for Internally Displaced and Host Communities Programme (SOLID), and three Human Capital Opportunities for Prosperity and Equity (HOPE) programmes—HOPE-GOV, HOPE-PHC and HOPE-EDU.
The CPPE boss noted that there is broad consensus that the administration’s economic reforms have strengthened key macroeconomic fundamentals, including exchange rate stability, fiscal transparency, external reserves and investor confidence.
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He, however, stressed that macroeconomic stability alone is not enough to sustain reforms.
“The enduring test of any reform programme is its ability to improve living standards through lower inflationary pressures, higher productivity, stronger employment and rising household incomes,” Yusuf said.
He pointed out that the social intervention programmes would not only provide temporary relief for vulnerable households, but also strengthen public confidence in the reform process by demonstrating that economic reforms are ultimately designed to improve citizens’ welfare.
“Public support is more likely to endure when the benefits of reform are visible, inclusive and widely shared. Social protection therefore enhances not only social welfare but also the political credibility and sustainability of the reform agenda,” Yusuf said.
He also described the initiative as a recognition that macroeconomic stability should serve as a foundation for inclusive growth, productive employment, poverty reduction and shared prosperity rather than being an end in itself.
Despite welcoming the programmes, the CPPE warned that their success would depend on effective implementation, transparent governance and proper targeting of beneficiaries.
“The overriding priority now is rigorous implementation, transparent governance, effective targeting and measurable outcomes. Only then will the gains from macroeconomic reforms translate into tangible improvements in welfare, stronger productivity and a broader sharing of economic prosperity,” Yusuf stated.
He cautioned that social intervention programmes should complement, rather than replace, broader structural reforms needed to tackle poverty.
The group identified insecurity, high food inflation, weak agricultural productivity, inadequate infrastructure and high production costs as major constraints to inclusive growth, noting that sustainable poverty reduction depends on expanding productive employment and improving economic competitiveness.
The CPPE added that while cash transfers and related interventions can cushion the immediate impact of economic adjustment on vulnerable households, long-term improvements in living standards will require sustained structural reforms that promote productivity, private investment and income growth.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X