FG unveils grassroots economic plan, targets 8,809 wards
FG unveils grassroots economic plan, targets 8,809 wards
The Federal Government has announced the unveiling of a grassroots economic plan aimed at mapping and developing economic opportunities in all 8,809 wards across Nigeria, as part of a wider strategy to build a $1 trillion economy by 2030.
President Bola Tinubu made the announcement on Wednesday, at the 2025 Annual Directors’ Conference of the Chartered Institute of Directors in Abuja.
Represented by the Minister of Budget and Economic Planning, Atiku Bagudu, the President said the new initiative would be driven by data, local enterprise, and inclusive partnerships designed to bring economic activity closer to the people.
“Recently, in order to mobilise all parts of the country, I, and the National Economic Council, approved a programme which will map economic opportunities in the 8,809 wards of the country, so that we can support economically active activities in those wards so as to generate higher levels of growth in an inclusive manner,” he said.
In August, the National Executive Council unveiled the framework for its Renewed Hope Development Plan (2026-2030) to consolidate Nigeria’s reform agenda and actualise the $1tn economic target of the Tinubu-led administration.
In a statement signed by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha, Vice President Kashim Shettima said the plan will “not be drawn from the ivory towers of Abuja alone.”
“We are going to keep on engaging state governments, local governments, organised private sector, civil society, labour, youth, and traditional institutions, and the conversation begins here today,” he noted.
In the same manner, the President, in his address, explained that the plan to reach the wards, formed a core part of the forthcoming 2026–2027 Medium-Term Economic Plan, which he said was being developed in a bottom-up manner, to ensure that local and state-level priorities aligned with the broader 2026–2030 National Development Plan.
“Equally, the 2026-2027 economic plan is being drawn in a bottom-up manner, where opportunities in the wards will be aggregated at the local government level to form tributes for the local government plans, which will also be aggregated at the state level to form tributes for the state plans as well as the national development plans.
“We believe this will mobilise all parts of the country and give us a national plan for 2026-2030, which will be easier to match the annual budget decisions by both the federal, state and local governments,” Tinubu stated.
He added that the initiative reflects his administration’s commitment to inclusive growth, arguing that sustainable national development can only be achieved if government policies directly empower people at the community level.
Tinubu emphasised that the administration’s long-term economic ambition would depend heavily on private sector investment, with projections that at least $100 billion in new investments will be mobilised per annum, 86 per cent of which would come from private capital.
“The Agenda 2020 was based on the promise that we will mobilise private investment as well as public investment, of at least a hundred billion dollars per annum, with 86% of it coming from the private sector.
“As we are ambitious in achieving the one trillion dollar economy by the year 2030, we must give pride of place to the private sector. And there is no greater place to start than here,” he stated.
He praised the CIoD for its continued role in promoting good corporate governance, urging the institute to continue generating actionable ideas that would strengthen Nigeria’s institutional frameworks and sustain economic reform momentum.
“Your role is vital in institutionalising good corporate governance that can harness our entrepreneurial spirit and build sustainable enterprises.
“Together, we will stay the course of reform so that we can generate even higher growth in the coming years,” Tinubu said.
The President formally declared the 2025 CIoD Conference open, calling for unity between government, business, and civil society in building a resilient national economy rooted in transparency, innovation, and inclusion.
Speaking earlier, the President and Chairman of the Governing Council CIoD, Adetunji Oyebanji, noted that addressing the challenges of inclusion in Nigeria’s corporate governance required “stronger public-private partnerships, capacity building, and innovative financing models tailored to scale inclusive enterprises.”
“An inclusive business strategy integrates vulnerable groups, especially women and youth, into productive sectors such as renewable energy and fintech, through access to finance and enabling policies.
“Yet, challenges persist: policy inconsistencies, infrastructure deficits, and limited access to affordable finance hinder progress.
“Evidence from studies and Nigerian-led initiatives underscores one truth: economies anchored on inclusive governance and sustainability-driven business practices experience more equitable and enduring growth,” he stated.
