• Economy
• Financial Inclusion
• MSMEs
• VP Shettima

VP SHETTIMA INAUGURATES COMMITTEE TO BRIDGE FINANCIAL GAPS IN NIGERIA

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  Nicolas Adekeye / 4 weeks
• 0
• 3 min read

Vice President Kashim Shettima has 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 the Aso Accord initiative. A statement, signed by Senior Special Assistant to the President on Media and Communications (Office of The Vice President), Stanley Nkwocha, noted that the composition of the Presidential Committee underscores the commitment of President Tinubu in attaining his administration’s trillion-dollar target for the economy. Shettima emphasized that Nigeria’s economic aspirations require more than optimism but “deliberate ideas and strategies, inspired by our desire to win.” He added, “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.” Shettima noted that since the launch of the Financial Inclusion Strategy in 2012, 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. 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. Shettima 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.” Nkwocha stated that the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said the Ministry of Finance remains committed to the tasks assigned to the Presidential Committee. The Minister of Humanitarian Affairs, Disaster Management and Social Development, Prof. Nentawe Yilwatda, said the ministry will be the biggest beneficiary of the efforts to enhance economic and financial inclusion across the nation. 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.