Vice President Kashim Shettima on Monday 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.
He reaffirmed President Bola Tinubu’s commitment to economic reforms that prioritize inclusive growth and bridge financial gaps across the country.
He made this known at the signing of an investment agreement by private sector stakeholders to provide the foundational infrastructure needed for the full operationalization of the Aso Accord Initiative held at the State House, Abuja.
The accord, signed on Thursday, April 25, 2024, at the State House Banquet Hall, serves as a core pillar of the Tinubu administration’s Renewed Hope Agenda to transform Nigeria’s economy.
Bridging Financial Gaps for Inclusive Growth
Speaking at the inauguration and the signing-off ceremony of the investment commitments, Vice President Shettima emphasized the need for strategic interventions to bridge financial gaps, particularly 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 stated.
Shettima highlighted the progress made since the launch of the Financial Inclusion Strategy in 2012, noting that inclusion rates have improved from 60.3% to 74% as of 2023. However, he cautioned that beneath these figures lie untold stories of millions of Nigerians still locked out of the financial system.
Catalyzing Economic Growth Through Investments
The Vice President welcomed the investment agreement as a catalyst for accelerating financial inclusion, supporting startups and MSMEs, creating jobs, and positioning 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 maximize the full potential of our people,” he asserted.
He further emphasized that the inauguration of PreCEFI and the formalization of investment commitments reinforce President Tinubu’s pledge to build an inclusive economy. This vision, he noted, 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,” Shettima said.
Structural Framework of the Presidential Committee
The Vice President acknowledged that key demographic groups—including youth, women, MSMEs, rural populations, and underserved regions—continue to face systemic barriers that hinder their economic potential.
To address these challenges, he explained that the new Presidential Committee will operate through two key structures:
- Governance Committee (GovCo) – responsible for high-level policy direction and oversight.
- Technical Committee (TechCo) – tasked with technical implementation and strategic execution.
Additionally, the framework will be supported by an Implementation Secretariat to ensure a coordinated and effective rollout of financial and economic inclusion initiatives.
Shettima assured stakeholders that this approach is designed to be robust, dynamic, and adaptable to emerging economic challenges and opportunities.
