In a historic move aimed at propelling Nigeria into a $1 trillion economy by 2030, the Presidency, all 36 states, and the private sector have forged a groundbreaking agreement known as the Aso Accord on Economic and Financial Inclusion. This comprehensive plan seeks to ensure that every citizen in Nigeria has equal access to financial services, thus fostering widespread prosperity and addressing poverty and insecurity.
Formalized in Abuja last Thursday, the agreement was made public through a statement released by Dr. It, the President’s Technical Advisor on Financial Inclusion. It signifies a pivotal aspect of President Bola Tinubu’s Renewed Hope Agenda, demonstrating the administration’s commitment to uplifting the nation’s economic landscape.
Vice President Kashim Shettima, Minister of Finance and Coordinating Minister of the Economy, Mr. Yemi Cardoso, and National Security Adviser (NSA), Mallam Nuhu Ribadu, were among the high-profile signatories to the agreement.
Representing the 36 states, Governor AbdulRahman AbdulRazaq, Chairman of the Nigeria Governors Forum, lent his support to the initiative, while the private sector was represented by Mr. Abubakar Suleiman, Managing Director/Chief Executive Officer of Sterling Bank Plc.
The Aso Accord underscores the significance of financial inclusion as both an economic imperative and a moral obligation to empower all Nigerians to unlock their full potential. It aims to democratize access to finance, foster entrepreneurship, and catalyze sustainable economic growth from the grassroots level.
Key components of the agreement include the establishment of a top-tier Presidential Council to spearhead reforms, potentially through an Executive Order, and the prioritization of innovative approaches such as government-to-person (G2P) initiatives to channel investments directly into marginalized communities.
According to Zauro, who led the National Stakeholders’ Workshop on Economic and Financial Inclusion, “Financial inclusion is not only a vital economic goal but also a moral duty to open up possibilities for all Nigerians to realize their full potential.”
He further emphasized, “The Aso Accord provides a robust framework to democratize access to finance, empower entrepreneurs, and catalyze sustainable economic growth from the bottom up.”
By enabling every Nigerian to access credit, savings, investment, and insurance opportunities, the Aso Accord aims to fuel an entrepreneurial revolution that drives economic transformation across the nation.
In conclusion, Zauro affirmed, “Financial exclusion perpetuates generational poverty, but financial inclusion catalyzes economic citizenship and empowerment. The Aso Accord reflects the president’s determination to leave no Nigerian behind on our journey to sustainable prosperity.”
