Friday, September 26, 2025 - The Federal Government has urged the World Bank to back its Renewed Hope Ward Development Programme.
The initiative is a grassroots-focused initiative designed
to stimulate economic activities across the country and advance President Bola
Ahmed Tinubu’s vision of a $1 trillion economy by 2030.
The Minister of Budget and Economic Planning, Senator
Abubakar Bagudu, made the appeal yesterday in Abuja at a meeting with the
bank’s new Country Director, Mr. Matthew Verghis.
Bagudu explained that the programme, recently approved by
the National Economic Council and coordinated by his ministry, is a
transformative plan aimed at driving bottom-up growth and lifting millions out
of poverty.
“The objectives, among others, are to promote sustainable
and inclusive growth at the ward level, which will contribute to national
development,” Bagudu said. “This will support the $1 trillion GDP target by
2030 and help lift all Nigerians out of poverty.”
The minister said the initiative would map economic
opportunities in all 8,809 wards across the country and support economically
active citizens to generate more value.
“It is about creating sustainable and inclusive growth from
the grassroots,” he added.
Bagudu stressed that the country is drawing lessons from
other countries while building a uniquely Nigerian model.
“We have examined China’s experience of lifting 852 million
people out of poverty, India’s rural transformation, and Kenya’s bottom-up
strategy. Nigeria can incorporate these lessons, but with a model that reflects
our constitutional federalism and ensures all three tiers of government take
responsibility,” he said.
The minister also linked the programme to Nigeria Agenda
2050, the country’s long-term strategic plan, which he described as “ambitious
but achievable”.
He said: “It reflects our national consensus — enshrined in
Chapter Two of our Constitution — that all tiers of government must work
together to deliver economic, social, and environmental objectives. Our duty is
to translate this vision into actionable five-year plans and annual budgets
that are people-centred and results-driven.”
Bagudu expressed appreciation to the World Bank for its
consistent partnership, particularly during the past 28 months of economic
reforms.
“The World Bank team has collaborated with us not just as
partners but as members of the same team. We could not have achieved the
results we have today without your support,” Bagudu said. “Together, we have
taken bold steps that are beginning to restore macroeconomic stability and
inspire confidence at home and abroad…
“Our reforms have demonstrated the value of staying the
course in the right direction. With effective policies and difficult but
necessary choices, we are beginning to see results. The task now is to build on
these achievements and ensure that no willing Nigerian is left behind.”
Verghis hailed Nigeria for taking bold decisions in its
reform process, describing them as a “development breakpoint” that could reset
the country’s economic trajectory.
“Nigeria’s recent decisions represent a critical moment.
Such choices are not easy, but they create opportunities for a new path. The
World Bank stands ready to continue supporting Nigeria in maintaining these
reforms and increasing their impact,” he said.
He described the Renewed Hope Ward Development Programme as
a promising initiative but stressed the importance of building on proven
structures.
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