HomeBusinessPresidency Bets Big On Financial Inclusion To Achieve $1trn Economy By 2030

Presidency Bets Big On Financial Inclusion To Achieve $1trn Economy By 2030

…1,000 business leaders to sign pact on policy reforms, enterprise growth at Blueprint Summit 2.0 December 

…as Gaye seeks 50-year African businesses, unveils digital platform

The Presidency has said Nigeria’s target of a $1 trillion economy by 2030 would depend largely on bringing millions of economically active Nigerians, particularly women, youths and small business owners, into the formal financial system.

To meet the set target, it insisted that the country must urgently formalise its grassroots economy, maintaining that bringing millions of women, youth, and small business owners into the formal financial system was no longer optional but a prerequisite for growth.

Technical Adviser to the President on Economic and Financial Inclusion, Dr Nurudeen Abubakar Zauro, stated this in Abuja on Tuesday while announcing a partnership between the Presidential Committee on Economic and Financial Inclusion (PreCEFI) and the Africa CEO Club ahead of the Africa Blueprint Summit 2.0 billed to hold on December 3, 2026.

Zauro said financial inclusion must go beyond opening bank accounts to providing individuals and businesses with access to credit, savings, insurance, pensions, investment opportunities and wider markets.

He maintained that the Federal Government’s economic transformation agenda could not achieve its full potential while significant segments of the population remained excluded from formal financial services and productive economic activities.

According to him, financial inclusion was a critical driver of economic growth, enterprise development, job creation and national prosperity.

The presidential aide said PreCEFI, under the leadership of Vice President Kashim Shettima, was coordinating government institutions, regulators and private-sector stakeholders to expand financial access and ensure that no economically active Nigerian was left behind.

Zauro identified digital public infrastructure, consumer protection and simplified onboarding procedures as essential to removing barriers to financial services, particularly the challenges of formal identification and inadequate banking facilities.

He stressed that financial inclusion must translate into productive activities, including business expansion, agricultural financing, employment generation and access to domestic and international markets.

“Opening an account is the first step, not the last. True inclusion means that the small business can borrow, grow, hire and one day sell across borders,” he said.

Explaining the partnership with Africa CEO Club, Zauro said the collaboration would bridge the gap between financial inclusion and enterprise development by connecting entrepreneurs with institutions offering finance, regulatory support and market opportunities.

The summit, themed “The Builders’ Mandate: From Blueprint to Build,” is scheduled for December 3, 2026, at the Congress Hall of Transcorp Hilton, Abuja, with about 1,000 business leaders, investors, policymakers and regulators expected from across Africa and the diaspora.

He said participants would develop a Builders’ Mandate outlining 10 priority policy interventions expected from governments and 10 corresponding commitments from the private sector to promote economic growth, investment and sustainable businesses.

The Presidential aide said PreCEFI would ensure that the interests of micro, small and medium enterprises (MSMEs), particularly women, and youth-led businesses, feature prominently in discussions on access to capital, regulatory reforms and enterprise development.

In her remarks, President of the Africa CEO Club, Dr Fatoumatta Gaye, said the summit would address Africa’s “institutional deficit”, characterised by the inability of many businesses to survive beyond their founders.

She lamented that several African enterprises lacked effective succession plans, management structures and institutional frameworks to ensure continuity across generations.

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Source: Business Archives – New Telegraph

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