The Federal Government has inaugurated Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of ongoing efforts to achieve a trillion-dollar economy by 2030.
Vice President Kashim Shettima, who inaugurated the committee on Monday at the Presidential Villa, Abuja, reaffirmed President Bola Ahmed Tinubu’s commitment to economic reforms that prioritise inclusive growth and bridge financial gaps across the country.
The Senior Special Assistant to the Vice President on Media and Communications, Stanley Nwocha, in a statement said 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 the Aso Accord initiative.
The accord signed on Thursday, 25th April 2024 at the State House Banquet Hall is a core pillar of the Tinubu administration’s Renewed Hope Agenda to transform the nation’s economy.
The statement said while speaking during the inauguration ceremony and sign-off of the investment commitments, the Vice President 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 have improved from 60.3% to 74% as of 2023 but added that beneath these figures lie 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.
Senator Shettima further noted that youth, women, micro, small, and medium enterprises (MSMEs), rural populations, and certain regions have continued “to face systemic barriers that deny them the opportunity to reach their full economic potential”.
He explained that the new Presidential Committee will operate through the Governance Committee (GovCo) and a Technical Committee (TechCo) and be supported by an Implementation Secretariat.
The Vice President added that this framework “ensures that our approach is not only robust but also adaptable to evolving challenges and opportunities in financial and economic inclusion.”
Meanwhile, IQS Africa is leading a consortium of core investors committed to providing the essential infrastructure for the Aso Accord’s implementation.
