ABUJA —THE Vice President, Senator Kashim Shettima, yesterday reaffirmed President Bola Tinubu’s commitment to economic reforms that prioritise inclusive growth and bridge financial gaps across the country.
He also inaugurated the Presidential Committee on Economic and Financial Inclusion, PreCEFI, as part of the federal government’s commitment to achieving a trillion-dollar economy by 2030.
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 Aso Accord initiative.
The accord, signed on Thursday, April 25, 2024, at 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, Shettima 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 had improved from 60.3% to 74% as of 2023, adding that beneath these figures laid 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.
He explained that the new Presidential Committee would operate through the Governance Committee (GovCo) and a Technical Committee (TechCo) and be supported by an implementation secretariat.
Earlier in his opening address, the Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hadejia, said the composition of the presidential committee, with membership drawn from the sub-nationals, key ministries, departments and agencies, MDAs, 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 was significant to Nigeria’s journey towards inclusive growth and the attainment of one trillion-dollar economy, noting that collaboration would 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 had 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 was at the core of what the state government was doing.
In the same vein, Kaduna State governor, Sen. Uba Sani, said financial inclusion for Nigeria was long overdue, and welcomed the visionary leadership of Vice President Shettima.
He noted that beyond the issues of poverty, financial inclusion would help to address a lot of issues in the northern part of the country where digital infrastructure and network connectivity was 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.
Also, the National Security Adviser, Mallam Nuhu Ribadu, commended 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 was a vehicle that would 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.
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