• Reaffirms Tinubu’s commitment to inclusive growth reforms
From Juliana Taiwo-Obalonye, Abuja
Vice President Kashim Shettima has reaffirmed President Bola Tinubu’s dedication to economic reforms, prioritising inclusive growth and bridging financial disparities throughout Nigeria.
The Vice President gave this commitment yesterday at the inauguration of the Presidential Committee on Economic and Financial Inclusion (PreCEFI), a key component of the administration’s strategy to achieve a trillion-dollar economy by 2030.
The inauguration coincided with the signing of an investment agreement by private sector stakeholders, committing to provide essential infrastructure for the Aso Accord initiative. The Aso Accord, signed on April 25, 2024, is a central pillar of President Tinubu’s Renewed Hope Agenda aimed at transforming the nation’s economy.
Shettima urged all stakeholders to support the government’s efforts to bridge the financial gaps for millions of unbanked citizens, emphasising that achieving Nigeria’s economic aspirations required deliberate ideas and strategies.
“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.”
While noting the progress since the launch of the Financial Inclusion Strategy in 2012, with inclusion rates rising from 60.3 percent to 74 percent as of 2023, he acknowledged that millions remain excluded from 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,” Shettima said.
The Vice President highlighted that youth, women, MSMEs, rural populations and specific regions continue to face systemic barriers hindering their economic potential.
The new Presidential Committee will operate through the Governance Committee (GovCo) and a Technical Committee (TechCo), supported by an Implementation Secretariat, ensuring a robust and adaptable approach to financial and economic inclusion.
IQS Africa is leading a consortium of core investors committed to providing the essential infrastructure for the Aso Accord’s implementation.
The Deputy Chief of Staff to the President (Office of the Vice President), Ibrahim Hassan Hadejia, emphasised President Tinubu’s commitment to attaining the administration’s trillion-dollar target for the economy.
Technical Advisor to the President on Economic and Financial Inclusion, Nurudeen Zauro, underscored the significance of the Presidential Committee in Nigeria’s journey towards inclusive growth and the attainment of a one trillion-dollar economy.
Governor of Enugu State, Peter Mbah, noted that economic and financial inclusion has boosted the state’s internally generated revenues, while Kaduna State Governor, Uba Sani, welcomed Vice President Shettima’s leadership, noting that financial inclusion would address issues in the northern part of the country, where digital infrastructure and network connectivity are inadequate.
IQS President/CEO, Emmanuel Itapson, praised President Tinubu’s leadership, stating that the Renewed Hope Agenda was a bold move to redefine opportunity and possibilities for the nation.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, affirmed the Ministry’s commitment to translating the vision of the Aso Accord into actionable reforms and programmes. Minister of Humanitarian Affairs, Disaster Management and Social Development, Nentawe Yilwatda, pledged his ministry’s support to close the gap in financial inclusion, especially among vulnerable groups.
National Security Adviser, Nuhu Ribadu, commended the vice president’s leadership in accelerating reforms and pledged the support of Nigeria’s security and intelligence community.