UNDP rates Osun the lowest Poverty Incidence over the last Seven Years in its 2018 Report.
Over the last seven years, the Osun government has put in place policies to revamp the economy and banish poverty in line with a six integral action plan. These policies are finally yielding results.
Latest reports from UNDP with verifiable facts from the NBS places Osun as the state with the lowest poverty incidence in the country for 2018.
The annual human capital index report accesses different indicators that contribute to the poverty level of states in the federation.
The human development report by UNDP in 2013 released by NBS had Osun rated second lowest state in poverty index.
Osun was rated one of the five states with the lowest unemployment rate in 2017
The United Nations multidimensional poverty index of 2017 rated Osun as the second richest state in Nigeria.
The latest report of 2018 places Osun’s poverty index rate at 17.5% ahead of Lagos, Nigeria’s economic capital.
Incidence of poverty by states shows that it is more prevalent in Sokoto state (89.9%) followed by Jigawa (86.1%), Rivers and Ebonyi (58.9%) while the lowest state is Osun with 17.5%.
Osun has the lowest intensity of poverty rate with 35.5% while Sokoto is ranked highest with 50.4%.
Unemployment rate in Osun as at 2018 stands at 6.7%, the lowest in the country.
Incidence of poverty for the state of Osun was 10.9% in 2017 as against 37.5% in 2010. Clearly, Osun has experienced a significant drop in poverty incidence between 2010 and now.
NBS statistics for 2018 shows that number of employed persons in Osun rose from 1,524,312 in 2010 to 2,365,622 in Q3, 2017. This represents a 55% increase in employment rate over 7 years.
Over the last 7 and half years, the Rauf Aregbesola led administration in Osun has lifted over 700,000 people out of poverty.
Over 38,000 traders and small business owners have been empowered between 2014 and 2018 alone.
The Osun Youth Empowerment Scheme has employed over 62,000 youths and also injects 200 million naira monthly into the local economy.
The Osun broiler outgrower production scheme has produced more than 300 millionaires in the state.
The infrastructural revolution of the state has opened it up to more economic prosperity. Road construction in the state has created over 5,000 direct jobs and another 12,000 indirect jobs.
Osun Rural Access and Mobility Project has constructed and rehabilitated a total of 500km of rural roads in a bid to improve the livelihood of rural dwellers.
Osun land bank initiative has provided access to lands for about 10000 farmers. Similarly, rural electrification has opened up new window of opportunities for rural dwellers.
Over 2 billion interest free loans has been disbursed to small and medium scale enterprises, 800 trade co-operative societies and 9,995 individuals across the state of Osun.
Statistics from the Small and Medium scale Enterprises Development Agency of Nigeria shows that 1,596,530 jobs has been generated by the MSMEs in the state of Osun.
The revamp of the Cocoa industry, Ede, free vocational trainings for the indigenes of Osun and timely support for artisans and trade associations have continued to place Osun on a pedestal of growth and development.