NEC unveils road map for $1tn economy by 2030
The National Economic Council on Thursday unveiled the framework for the Renewed Hope Development Plan (2026–2030) aimed at consolidating Nigeria’s reform agenda and actualising the $1tn economy target of the administration of President Bola Tinubu.
This was part of the resolutions reached at the 151st meeting of the council, which commended the Ministry of Budget and Economic Planning for kickstarting the process and also urged the effective participation by all states and stakeholders to ensure inclusivity and accelerated growth.
NEC also asked the Accountant General of the Federation to accelerate the release of funds for the next round of the national polio immunisation campaign to ensure a hitch-free exercise.
A statement signed by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha, noted that the Chairman of the Council, Vice President Kashim Shettima, said the new national development plan would build on existing policies, deepen continuity, and align Nigeria’s growth trajectory with the long-term goals of Nigeria Agenda 2050.
Shettima described the transition as critical to sustaining the country’s economic trajectory and consolidating the administration’s ongoing reforms.
“Another major consideration today is the expiration of the National Development Plan 2021–2025 and the preparation of its successor, the Renewed Hope Plan 2026–2030.
“This, to us, is no ordinary transition. It is the bridge between lessons learnt and ambitions pursued. The Renewed Hope Plan will consolidate ongoing reforms, deepen policy continuity, and align our medium-term strategies with the long-term horizon of Nigeria Agenda 2050. It’s a practical roadmap towards a $1tn economy by 2030,” he said.
The Vice President emphasised that the plan will be participatory , rather than top-down, engaging multiple tiers of government, civil society, and private actors.
“What is even more crucial is that this plan will not be drawn from the ivory towers of Abuja alone. It will be participatory. 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.
The Vice President also announced that NASENI has scaled up local production of solar-powered irrigation pumps to reduce energy costs for farmers and expand dry-season cultivation.
“This is the story of the nation’s refusal to be hostage to petrol-powered systems. This is an intervention to lower farmers’ energy costs, expand dry-season farming, and reinforce food security,” the Vice President stated.
On the role of NEC as a problem-solving platform, Shettima urged members to maintain the council’s focus on translating policies into real outcomes for citizens.
“Distinguished colleagues, you have made sure that this council is not a stage for applause. You are the reason it is a workshop for solutions. Let this 151st meeting echoe as a continuation of our covenant.
“Let it be remembered not only for the issues tabled but for the resolve shown. Let it move from chamber to community, from rhetoric to result,” the Vice President stated.
On preparations for the next round of the national immunisation campaign, NEC called on the Accountant General of the Federation to expedite the release of funds to ensure a hitch-free exercise.
The council also urged partners to leverage technology to strengthen surveillance and tracking systems in Nigeria’s routine immunisation programme.
