The Nigerian government has launched a new initiative to establish an operating model and framework for Economic and Financial Inclusion, aiming to transform Nigeria into a $1 trillion economy by 2030.
The project is designed to combat poverty and catalyze sustainable economic growth from the ground up.
Vice President Kashim Shettima said; “the initiative symbolizes the commitment of the President Bola Tinubu administration to enhancing financial and economic inclusion across Nigeria.”
VP Shettima spoke on Wednesday during the Kick-off meeting for the initiative to set up an Operating Model for Economic and Financial Inclusion.
The 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 Renewed Hope Agenda to transform the nation into a $1trillion economy by 2030, while combating poverty and insecurity through broad-based prosperity.
Addressing members of the team and other stakeholders at the maiden meeting, the Vice President noted that “the idea is to provide access to capital and eradicate poverty through legislative interventions and critical policies.”
According to Shettima, at the heart of every strategy championed by President Tinubu, there has been the need to prioritize inclusive economic growth and development.
He listed some positive results the efforts have yielded to 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 President Tinubu.
Also speaking during the meeting, Technical Advisor to the President on Financial Inclusion, Dr. Nurudeen Zauro, reported substantial progress in implementing the Aso Accord on financial inclusion and a series of initiatives aimed at broadening financial access across the nation.
He said that “the team is planning capacity-building initiatives and “high-profile training for permanent secretaries and Commissioners of Finance to ensure that practical knowledge on financial inclusion would be injected where they are needed.”
The Project Manager at the Lagos Business School, Prof. Olayinka David-West, commended the current administration for putting economic and financial inclusion on the front burner by signing of the Aso Accord earlier in April.
Mercy Chukwudiebere
