The Federal Government has launched a grassroots economic development initiative designed to identify and strengthen economic activities across all 8,809 wards in Nigeria.
President Bola Tinubu disclosed this at the 2025 Annual Directors’ Conference of the Chartered Institute of Directors (CIoD) held in Abuja on Wednesday.
Represented by the Minister of Budget and Economic Planning, Atiku Bagudu, the President said the initiative is part of the administration’s strategy to build a $1 trillion economy by 2030. The plan, he explained, will be driven by data, local enterprise, and inclusive collaboration between government, private sector, and communities.
Tinubu said the mapping of economic opportunities at the ward level would help identify local strengths that can drive growth and create jobs. He noted that the forthcoming 2026–2027 Medium-Term Economic Plan would adopt a bottom-up approach, integrating ward-level opportunities into local, state, and national development plans.
He stated that sustainable economic development must begin at the community level to ensure inclusivity and balance across regions.
The President reaffirmed his administration’s commitment to attracting private sector investments to achieve the $1 trillion economy target, projecting at least $100 billion in annual investment inflows, with 86 percent expected from private capital.
He urged the CIoD to continue promoting good corporate governance, noting that institutional reforms and responsible leadership are critical for sustaining economic progress.
Vice President Kashim Shettima, in a related statement signed by his media aide Stanley Nkwocha, emphasised that the Renewed Hope Development Plan (2026–2030) would not be developed “from the ivory towers of Abuja alone,” but through active engagement with states, local governments, civil society, youth, and the private sector.
CIoD President and Governing Council Chairman, Adetunji Oyebanji, called for stronger public-private partnerships, inclusive financing, and policy stability to deepen economic participation.
