From Juliana Taiwo-Obalonye, Abuja
Vice President Kashim Shettima emphasized the urgent need for financial inclusion in Nigeria to achieve the government’s vision of a $1 trillion economy by 2030. Speaking at the inaugural Development Partners Roundtable on Economic and Financial Inclusion in Abuja, he stated that systemic inequalities must be addressed to create an inclusive financial system that benefits all Nigerians, regardless of gender or geography.
Shettima highlighted alarming disparities, particularly the low penetration of digital financial services among women, which stands at only 23% compared to 43% for men.
He attributed these gaps to socio-economic barriers such as low income, limited education, and restricted access to financial tools like credit and insurance. “Women in the northwest and northeast are particularly disadvantaged,” he noted, urging stakeholders to bridge these inequalities.
He warned that without the active engagement of the private sector and development partners, Nigeria’s economic aspirations would remain unattainable. “We have made progress by continually assessing economic and financial inclusion in Nigeria. However, the findings reveal troubling gaps that demand our urgent attention,” he stated.
Shettima expressed optimism about the roundtable’s potential to foster meaningful dialogue and pave the way for a future where every Nigerian is integrated into the financial system. He called on development partners to collaborate closely with the government, emphasizing that “none of us can achieve this alone.”
The event also featured remarks from various leaders, including Bayelsa State Deputy Governor Lawrence Ewhrudjakpo, who commended President Bola Tinubu’s leadership and stressed the importance of including rural communities in development plans. Minister of Livestock Development Idi Maiha and Minister of State for Humanitarian Affairs Yusuf Sununu also highlighted strategies for integrating marginalized groups into financial inclusion programs.
Technical Adviser on Economic and Financial Inclusion, Nurudeen Zauro, described the gathering as a pivotal moment for Nigeria’s financial inclusion strategy, stating it unites stakeholders committed to transforming lives through equitable economic systems. The roundtable concluded with a call for ongoing collaboration to ensure the successful implementation of initiatives like the Aso Accord on Financial Inclusion.