Tinubu’s $1trn Economy Target By 2030 Still On Course, FG Assures

…Inaugurates Presidential Committee To Drive Economic Inclusion

ABUJA – Vice President Kashim Shettima, on Monday, said President Bola Tinubu was not mincing words when he pledged to build a $1 trillion economy by 2030.

He said Tinubu has always been com­mitted to economic reforms that will prioritise inclusive growth and bridge financial gaps across the country.

Shettima, therefore, inaugurated the Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of the Federal Government’s com­mitment to drive economic inclusion.

The event also witnessed the signing of an investment agreement by private sector stakeholders to provide the foundational infrastructure needed for the full operationalisation of the Aso Accord initiative.

The accord signed on Thursday, April 25, 2024, at the State House Banquet Hall is a core pillar of the Tinubu administration’s Renewed Hope Agenda to transform the na­tion’s economy.

Speaking during the inaugura­tion ceremony and sign-off of the investment commitments at the Presidential Villa, Abuja, the vice president called on all stakeholders to support the government’s effort at bridging financial gaps for mil­lions of unbanked citizens.

According to him, Nigeria’s economic aspirations require more than optimism but “deliber­ate ideas and strategies, inspired by our desire to win.

“Our road to a $1 trillion econ­omy by 2030 shall remain a mere wish unless we lay a foundation strong enough to carry our dreams. Dreams are not built on hope alone. They are the sum of deliberate ideas and strategies, inspired by our desire to win,” he added.

The vice president noted the progress made since the launch of the Financial Inclusion Strategy in 2012, explaining that inclusion rates have improved from 60.3% to 74% as of 2023 but added that beneath these figures lie untold stories of millions still locked out of the financial system.

“We welcome this investment as an opportunity to catalyse growth for our startups and MS­MEs, create jobs, and propel Nige­ria towards the $1 trillion economy target by 2030. This is not merely another government initiative. This is a higher calling—a national duty to bridge the economic divide and maximise the full potential of our people.

“The inauguration of this committee and the formalisation of this investment commitment re­inforce President Tinubu’s pledge to an inclusive economy—a vision that has been endorsed by the Na­tional Economic Council (NEC).

“We remain resolute in mitigat­ing the short-term effects of eco­nomic reforms, expanding finan­cial opportunities, and ensuring that every Nigerian, regardless of geography or status, is integrated into our economic growth story. However, the weight of this vision rests on all of us gathered here to­day,” VP Shettima stated.

Senator Shettima further not­ed that youths, women, micro, small, and medium enterprises (MSMEs), rural populations, and certain regions have continued “to face systemic barriers that deny them the opportunity to reach their full economic potential”.

He explained that the new pres­idential committee will operate through the Governance Commit­tee (GovCo) and a Technical Com­mittee (TechCo) and be supported by an Implementation Secretariat.

The vice president added that this framework “ensures that our approach is not only robust but also adaptable to evolving challeng­es and opportunities in financial and economic inclusion.”

Meanwhile, IQS Africa is lead­ing a consortium of core investors committed to providing the essen­tial infrastructure for the Aso Ac­cord’s implementation.

Earlier in his opening address, the Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hassan Hadejia, said the composition of the presidential committee with membership drawn from the sub-nationals, key ministries, departments and agencies of the Federal Government, and the pri­vate sector, underscored the com­mitment of President Tinubu in attaining his administration’s tril­lion-dollar target for the economy.

On his part, the Technical Ad­viser to the President on Economic and Financial Inclusion, Dr. Nuru­deen Zauro, said the inauguration of the presidential committee is significant to Nigeria’s journey towards inclusive growth and the attainment of one trillion-dollar economy, noting that collaboration will be critical to the actualisation of all set objectives.

In a goodwill message, the gov­ernor of Enugu State, Dr. Peter Mbah, said economic and financial inclusion has been instrumental to the state’s astronomical increase in internally generated revenues, noting that growing the economy with the interest of the weak and vulnerable at heart is at the core of what the state government is doing.

In the same vein, Kaduna State governor, Sen. Uba Sani, said finan­cial inclusion for Nigeria was long overdue, just as he welcomed the visionary leadership of Vice Pres­ident Shettima.

He noted that beyond the issues of poverty, financial inclusion will help to address a lot of issues in the northern part of the country where digital infrastructure and network connectivity is inade­quate.

Delivering his remarks, the President/CEO of IQS, Mr. Em­manuel Itapson, said “the ideals of the Renewed Hope Agenda of the Tinubu administration is at a moment when visionary leader­ship, carefully thought-out policies and moments in history meet at a confluence.

“The agenda is a bold move to redefine the contours of opportu­nity and possibilities before the nation,” he added.

Praising President Tinubu’s exemplary leadership, Mr Itapson said, “No nation has ever achieved a great leap in its move towards greatness without a leadership that paints a vision that summons and harnesses the best and the most out of its people.

“Leadership provides the moonshot challenge and inspires the country to rise to that chal­lenge. It also creates an environ­ment where stakeholders, espe­cially the private sector, will bring their ingenuity and unleash their entrepreneurial energy for the common good and national devel­opment.

“The Renewed Hope Agenda for Nigeria with its trillion-dollar economy target is the moonshot moment for Nigeria and IQS Afri­ca is excited to play a role in this great national renewal challenge.”

In his remarks, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said the Ministry of Finance remains committed to the tasks assigned to the presiden­tial committee, noting that it will take responsibility for translating the vision of the Aso Accord into actionable and impactful reforms and programmes.

On his part, the Minister of Hu­manitarian Affairs, Disaster Man­agement and Social Development, Prof. Nentawe Yilwatda, said the ministry will be the biggest ben­eficiary of the efforts to enhance economic and financial inclusion across the nation, pointing out that agencies under his ministry will support the presidential com­mittee to close the gap in financial inclusion especially among vulner­able groups in the country.

The National Security Adviser, Mallam Nuhu Ribadu, lauded the vice president’s leadership of the efforts to accelerate the ongoing reforms across different sectors in the country.

He said the financial inclusion efforts of the administration is a vehicle that will help Nigeria bring life to dead capital, adding that it should be taken more seriously by all stakeholders, pledging the support and commitment of Ni­geria’s security and intelligence community.