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Budget to alleviate poverty

    ABIDJAN

    Reducing poverty levels is a key objective of the 470 billion naira (US $4.9 billion) proposed by the federal government for its fiscal operations next year, ‘The Guardian’ quotes President Olusegun Obasanjo as saying on Wednesday.

    “The extent of poverty has reached frightening proportions primarily due to the neglect of past governments,” he said. “We must pledge to wipe out this scourge in the medium term, beginning from this budget.”

    He also said that incentives for oil and gas investment would be reviewed because of the damaging effect that they were having on state income.

    The budget represents an increase of 129.4 billion naira (US $1.3 billion), or 38 % over the 340.6 billion naira (US $3.5 billion) for this year.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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