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| Nigeria Aims for $1 Trillion Economy by 2030 – FG |
The Federal Government has launched a new initiative to establish an operating model and framework for Economic and Financial Inclusion, with the goal of transforming Nigeria into a $1 trillion economy by 2030.
This project is designed to combat poverty and stimulate sustainable economic growth from the grassroots level.
Vice President Kashim Shettima stated that the initiative reflects the commitment of President Bola Ahmed Tinubu's administration to enhancing financial and economic inclusion nationwide.
Shettima made these remarks on Wednesday during the kick-off meeting for the initiative to set up an Operating Model for Economic and Financial Inclusion for the Office of the Vice President.
On April 25, 2024, the federal government unveiled the Aso Accord on Economic and Financial Inclusion, a comprehensive blueprint aimed at achieving universal access to financial services.
The accord is a key component of the administration’s Renewed Hope Agenda, which seeks to transform Nigeria into a $1 trillion economy by 2030, while addressing poverty and insecurity through widespread prosperity.
Addressing team members and stakeholders at the inaugural meeting, the Vice President emphasized the importance of providing access to capital and eradicating poverty through legislative interventions and critical policies.
According to Shettima, inclusive economic growth and development have been central to every strategy championed by President Tinubu.
He highlighted some positive outcomes of these efforts, including the recent upgrade of Nigeria’s credit outlook to positive by Fitch Ratings, which recognizes the progress of reforms under President Tinubu.
Shettima noted that the administration’s strategic and sustainable approach to inclusive growth has elevated economic and financial inclusion to the agenda of the National Economic Council (NEC), where all governors of the 36 states and the FCT minister participate in crucial policy discussions alongside other stakeholders.
He urged members of the implementation team and all stakeholders involved in the initiative to understand the significance of their responsibility, describing it as a vital national assignment.
“You have been entrusted with a crucial national task, and I have full confidence that you will bring your best efforts to ensure its success,” Shettima said.
“As we embark on this essential initiative, I call upon each of you to contribute your insights, expertise, and dedication. Only through such resolve and discipline can we develop a robust operating model that will drive economic and financial inclusion across our nation, ensuring every Nigerian has the opportunity to thrive.”
Also speaking during the meeting, Technical Advisor to the President on Financial Inclusion, Dr. Nurudeen Abubakar Zauro, reported significant progress in implementing the Aso Accord on financial inclusion and various initiatives aimed at expanding financial access nationwide.
Dr. Zauro acknowledged Vice President Shettima's role in supporting the signing of the accord and its ongoing implementation, noting that discussions on financial inclusion have now reached the highest levels of government, including NEC.
Earlier, the Project Manager at the Lagos Business School, Prof. Olayinka David-West, praised the Tinubu administration for prioritizing economic and financial inclusion by signing the Aso Accord in April.
