Latest News in Nigeria
FG moves to transform Nigeria into $1trn economy by 2030, unveils financial model
The Federal Government has unveiled a new financial
inclusion policy aimed at transforming Nigeria into a $1 trillion economy by
2030.
According to the Presidency, the project is designed to
combat poverty and catalyse sustainable economic growth from the ground up.
Vice President Kashim Shettima who unveiled the policy on
Wednesday, said the initiative symbolises the commitment of the President Bola
Tinubu administration to enhancing financial and economic inclusion across
Nigeria.
The Federal Government had on April 25, 2024 unveiled the
Aso Accord on Economic and Financial Inclusion, a multi-pronged blueprint
designed to achieve universal access to financial services.
The accord represents a core pillar of the administration’s
Addressing members of the team and other stakeholders at the
According to Shettima, at the heart of every strategy
He listed some positive results the efforts have yielded to
“While such upgrade by a distinguished institution reflects
“Hence, we are prioritising measures to mitigate immediate
Shettima further pointed out that due to the Click to signup for FREE news updates, latest information and hottest gists everyday
Renewed Hope Agenda to transform the nation into a $1 trillion economy by 2030,
while combating poverty and insecurity through broad-based prosperity.
maiden meeting, the Vice President noted that the idea is to provide access to
capital and eradicate poverty through legislative interventions and critical
policies.
championed by Tinubu is the need to prioritise inclusive economic growth and
development.
include the recent upgrade of Nigeria’s credit outlook to positive by Fitch
Ratings, noting that it is in recognition of the reform progress under Tinubu.
growing confidence in our economic trajectory, particularly in light of policy
changes aimed at easing our debt service burden, we remain mindful of the
short-term impacts of these reforms.
effects, from the Student Loan Act, which democratises access to education, to
the relentless efforts of the Federal Ministry of Agriculture and Food Security
in combating food insecurity.”
administration’s belief that its approach to inclusive growth must be strategic
and sustainable, economic and financial inclusion was elevated to the agenda of
the National Economic Council (NEC), where all governors of the 36 states and
the FCT minister participate in crucial policy deliberations alongside other
stakeholders.
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