FG unveils plan to make Nigeria a $1 trillion economy by 2030

Vice President Kashim Shettima has highlighted the administration’s commitment to enhancing financial and economic inclusion through a groundbreaking initiative.

This project, designed to fight poverty and stimulate sustainable economic growth from the grassroots, signifies the dedication of President Bola Tinubu’s government to inclusive development across Nigeria.

Speaking on Wednesday at the inaugural meeting for establishing an Operating Model for Economic and Financial Inclusion, Senator Shettima emphasized the initiative’s significance. On April 25, 2024, the federal government introduced the Aso Accord on Economic and Financial Inclusion, a detailed plan aimed at providing universal access to financial services.

Despite the positive outlook from a notable institution reflecting confidence in Nigeria’s economic path, Shettima acknowledged the short-term challenges posed by recent policy changes intended to ease the debt service burden.

He stressed the importance of immediate measures to mitigate these impacts, such as the Student Loan Act, which broadens access to education, and ongoing efforts by the Federal Ministry of Agriculture and Food Security to address food insecurity.

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The Vice President underscored that the administration’s strategic and sustainable approach to inclusive growth necessitated elevating economic and financial inclusion to the National Economic Council’s agenda.

This council includes governors from all 36 states and the FCT minister, alongside other key stakeholders, for critical policy discussions.

Shettima urged the initiative’s implementation team and all involved stakeholders to recognize the importance of their roles, describing their task as a vital national duty. The project manager noted that while institutions like Lagos Business School have long promoted financial inclusion, the current administration’s initiative will pave the way for the successful nationwide execution of this policy.

Prof. David-West, during an engagement with the Vice President, discussed identifying appropriate platforms and structures to rally relevant authorities behind the initiative. The meeting also saw attendance from key figures such as the National President of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Fasasi Sarafadeen; Lagos Business School Senior Lecturer, Dr. Nkemdilim Iheanachor; Project Leader of Augmentum Advisory, Kolajo Ajibola; and Project Team Lead, Stephen Ambore, among others.