Financial inclusion key to Tinubu’s $1trn GDP target – Presidency

‎. –1,000 business leaders to sign pact on policy reforms, enterprise growth at Blueprint Summit 2.0 December 3 ‎–As Gaye seeks 50-year African businesses, unveils digital platform ‎By Johnbosco Agbakwuru ‎ABUJA –THE Presidency on Tuesday, said Nigeria’s ambition of building a $1 trillion economy by 2030 depends largely on bringing millions of economically active Nigerians, particularly women, youths and small business owners, into the formal financial system. ‎The Presidency also noted that to unlock the $1 trillion future by 2030, Nigeria must urgently formalize its grassroots economy, maintaining that bringing millions of women, youth, and small business owners into the formal financial system is 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 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 is a critical driver of economic growth, enterprise development, job creation and national prosperity. ‎According to him: “This work sits at the heart of the Federal Government’s economic agenda.

Millions of our citizens, many of them women, young people, rural households ‎and small business owners, still operate outside the formal financial system. ‎”They lack access to savings, credit, insurance and pensions. If we are to build a one trillion dollar economy, we cannot leave them behind. Inclusion is not ‎charity. It is growth.” ‎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. ‎Zauro 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 what she described as 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. ‎”Africa does not lack brilliant founders.

What we lack are institutions that outlive them. Too many of our businesses rise with one person and fall with that same person. Too few become 50-year companies,” she said. ‎Gaye said the Builders’ Mandate would be endorsed by participating business leaders and presented to governments, while the Africa CEO Club would monitor and publicly report progress on its implementation throughout 2027. ‎She recalled that the maiden edition, held on November 27, 2025, at the Afreximbank African Trade