President Tinubu Targets $1 Trillion Economy By 2030

President Bola Ahmed Tinubu’s administration has set an ambitious goal of building a trillion economy by 2030, with a focus on bridging the gap between the rich and poor through sustainable mechanisms. This was revealed by Senator Ibrahim Hadejia, Deputy Chief of Staff to the President (Office of the Vice President), at the 8th Annual National Conference of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) in Benin, Edo State, on Thursday.

Represented by Nurudeen Abubakar Zauro, Technical Advisor on Economic and Financial Inclusion, Hadejia emphasized the government’s commitment to economic and financial inclusion, ensuring that all Nigerians, regardless of their location or socioeconomic status, are empowered within the financial system.

“As we aim to achieve this milestone, financial inclusion remains central to our economic agenda. We are focused on empowering all Nigerians, particularly women, rural dwellers, and small business owners, by boosting access to credit for micro, small, and medium enterprises,” Hadejia said.

He noted that despite significant progress, around 26% of the adult population, primarily women and rural residents, remain financially excluded. To address this, Neighborhood Financial Inclusion Centers (NFIC) will be established to provide essential financial services, especially in underserved communities, addressing both physical and digital barriers to financial access.

Hadejia called for collaboration among stakeholders to drive the adoption of innovative financial products and services. He assured that Vice President Kashim Shettima, who also chairs the National Economic Council, is committed to supporting the ecosystem, particularly in delivering women-focused credit schemes and digital literacy programs.

In a goodwill message, Edo State Governor Godwin Obaseki, represented by the Permanent Secretary of the Ministry of Finance, lauded AMMBAN for promoting financial inclusion and driving economic growth in underserved communities. He highlighted his administration’s efforts in creating a business-friendly environment, which has helped alleviate poverty and reduce unemployment through financial services, particularly among Points of Sale (POS) agents.

The Central Bank of Nigeria’s (CBN) Deputy Governor (FSS), Philip Ikeazor, reiterated the importance of financial inclusion as a tool for economic empowerment, poverty reduction, and sustainable development. However, he noted that rural areas continue to lag behind in financial inclusion, despite progress in urban centers.

AMMBAN’s national president, Fasasi Saratadeen Atanda, pointed out the need for actionable steps based on financial inclusion data, noting that over 300 local government areas in Nigeria still lack bank branches. He also highlighted measures taken by AMMBAN to combat fraud, including the introduction of an automated identity card for agents and a joint task force with the police and other security agencies.

The conference aimed to transform data into inclusive financial solutions, aligning with the government’s broader goal of achieving a trillion economy by 2030.