In a strategic move aimed at fostering economic and financial inclusion across Nigeria, the federal government launched a new initiative on Wednesday.
The goal is clear: to establish a robust operating model and framework that will propel Nigeria into a $1 trillion economy by 2030. This initiative, unveiled at the Presidential Villa in Abuja, seeks to combat poverty and stimulate sustainable economic growth from the grassroots level upward.
Vice President Kashim Shettima, who officiated the launch, emphasized the importance of strategic and sustainable inclusive growth. He called upon all stakeholders to contribute their insights, expertise, and dedication to ensure the success of this crucial initiative.
“Only through resolve and discipline can we forge a robust operating model that will drive economic and financial inclusion across our nation, ensuring every Nigerian has the opportunity to thrive,” he stated.
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Shettima underscored the national significance of the initiative, urging the implementation team and stakeholders to fully engage with all aspects of the framework.
He highlighted the initiative’s role in addressing the economic challenges faced by over 30 million financially excluded Nigerians, stressing its pivotal role in steering Nigeria towards sustainable and inclusive growth.
This initiative builds upon the federal government’s broader program, the Aso Accord on Economic and Financial Inclusion, launched earlier this year in April.
The Aso Accord is a comprehensive blueprint aimed at achieving universal access to financial services, representing a fundamental pillar of the administration’s Renewed Hope Agenda. This agenda aims not only to elevate Nigeria to a $1 trillion economy but also to combat poverty and insecurity through widespread prosperity.
Shettima also noted the positive outcomes stemming from these efforts, including Nigeria’s recent credit outlook upgrade to positive by Fitch Ratings. This upgrade reflects growing confidence in Nigeria’s economic trajectory and underscores the impact of policy reforms aimed at easing the nation’s debt service burden.
“While we celebrate these achievements, we remain mindful of the short-term impacts of ongoing reforms,” Shettima cautioned, emphasizing the need for continued diligence and collaboration to navigate the challenges ahead.
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As Nigeria embarks on this transformative journey towards economic and financial inclusion, the launch of this initiative marks a pivotal moment in the nation’s quest for sustainable growth and prosperity.
With concerted efforts and strategic planning, Nigeria aims to unlock its full economic potential and create opportunities that benefit all its citizens.