VP Shettima Launches Committee to Drive Nigeria’s Trillion-Dollar Economic Vision by 2030
Vice President Kashim Shettima recently inaugurated the Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of the Nigerian government’s efforts to achieve a trillion-dollar economy by 2030. During the ceremony, Shettima reaffirmed President Bola Tinubu’s commitment to economic reforms that foster inclusive growth and close financial gaps. The event also featured the signing of an investment agreement by private sector stakeholders, which aims to support the foundational infrastructure for the Aso Accord Initiative.
Shettima stressed the importance of bridging financial gaps, particularly for Nigeria’s unbanked citizens, to propel the country toward its ambitious economic goals. He highlighted that a deliberate and strategic approach, beyond optimism, is essential for building a strong foundation capable of turning Nigeria’s trillion-dollar vision into reality. He acknowledged progress in financial inclusion, noting an increase in inclusion rates from 60.3% to 74% as of 2023 but pointed out that millions of Nigerians remain excluded from the financial system.
The Vice President welcomed the signing of the investment agreement as a key step to accelerate financial inclusion, support startups, and create jobs, ultimately driving the nation closer to its $1 trillion target. He emphasized that this initiative was not just another government project, but a national duty to bridge the economic divide and empower all Nigerians. The PreCEFI framework, supported by the National Economic Council, is designed to mitigate the short-term effects of economic reforms and ensure widespread participation in the country’s economic progress.
To achieve this vision, the Presidential Committee will operate through two key structures: a Governance Committee (GovCo) to provide high-level policy oversight, and a Technical Committee (TechCo) to focus on strategic implementation. The committee will also rely on an Implementation Secretariat to ensure the efficient rollout of economic and financial inclusion initiatives. Shettima expressed confidence in the robustness and adaptability of the framework, which aims to overcome the systemic barriers faced by key demographic groups like youth, women, MSMEs, and rural populations.
Source: nairametrics