*As VP Shettima Says “Economic Progress Not Measured By GDP Alone But How Growth Transforms Lives, Uplifts Communities”
![](https://thenigerialawyer.com/wp-content/uploads/2024/11/TheNigerialawyer-WhatsApp-Channel1.jpg")
President Bola Tinubu says his administration’s economic reforms are beginning to deliver positive results, citing improved macroeconomic stability and increased federal allocations to states and local governments.
Tinubu spoke while declaring open the two-day National Economic Council (NEC) conference held in Abuja on Monday.
The conference is themed ‘Delivering Inclusive Growth and Sustainable Development: The Renewed Hope National Development Plan’.
Addressing stakeholders at the conference on Monday, the president said Nigeria continues to grapple with macroeconomic imbalances, infrastructure deficits, unemployment, poverty, climate vulnerabilities, and limited fiscal space, but noted that the resilience and creativity of Nigerians remain a key strength.
“Since the inception of this administration, we have undertaken bold and necessary reforms to stabilise the economy, restore confidence and lay the foundation for long-term growth,” Tinubu said.
“These reforms are instruments for delivering prosperity, dignity and opportunity to all Nigerians.
“We have recorded notable achievements that reflect our commitment to cooperative federalism and inclusive development.”
Tinubu said monetary policy reforms introduced under his administration have started to yield positive outcomes, adding that the progress has been recognised internationally.
He said one of the most significant achievements so far is the improvement in federal revenue distribution, noting that states and local governments now receive higher and more predictable allocations.
“States and local governments now receive increased and more predictable federal allocations, improving their capacity to pay salaries, invest in infrastructure and deliver social services,” he said.
Tinubu also said the administration has taken steps to strengthen macroeconomic stability through improved revenue performance, stronger public financial management, and enhanced fiscal coordination.
He added that infrastructure development has been prioritised across key sectors, including transportation, power, digital connectivity, housing, and irrigation, describing infrastructure as a catalyst for inclusive economic growth.
The president said his government has also expanded social investment and human capital programmes targeted at vulnerable households, youths, women, and small businesses.
He added that the combined impact of the measures reflects his administration’s commitment to cooperative federalism and inclusive national development.
Tinubu also said the reforms were necessary to reposition the economy and ensure sustainable growth in the long term.
President Bola Tinubu has pledged decisive action against insecurity in the country.
The president said insecurity has continued to affect Nigerians and undermine economic progress.
“I believe we are here again to further find means to strengthen our security forces, to defeat terrorism and combat banditry,” Tinubu said.
“That, I promise you, is what affects all of us; sleepless nights. But I assure you that we will win with determination and resilience.”
Tinubu said terrorism and banditry are alien to Nigeria’s culture and must be defeated.
“We will overcome this unacceptable terrorism and banditry; it is not part of our culture,” he said.
The president warned that failure to urgently address insecurity would continue to hinder economic development.
“It’s an economic hindrance if we do not find immediate solution to it,” he said.
Tinubu commended some state governors, including those of Borno and Kaduna, for their efforts in tackling insecurity.
He said the federal government would continue to work with states to restore peace, while protecting lives and property.
The president said strengthening security is central to achieving inclusive growth and the objectives of the Renewed Hope national development plan.
Tinubu commended the council, chaired by Kashim Shettima, the vice-president, for sustaining a platform for policy coordination and strategic dialogue.
The president said economic reforms introduced by his administration have helped to stabilise the economy and restore investor confidence.
“I must say again at this juncture, the monetary policy that we have embarked on since the reforms has yielded positive results and gained recognition around the world,” he said.
Tinubu also commended the Central Bank of Nigeria under Yemi Cardoso, the CBN governor, for restoring confidence in Nigeria’s monetary policy framework.
He said grassroots-focused initiatives under the Renewed Hope agenda reflect the administration’s commitment to inclusive development.
“The Renewed Hope Ward Development Project further demonstrates our commitment to grassroots inclusion through a bottom-up approach to national development,” he said.
“These successes reflect strong collaboration among the federal and state governments, development partners and the private sector.”
Tinubu said the Renewed Hope National Development Plan 2026–2030 represents the next phase of Nigeria’s development journey.
He said the plan is anchored on inclusive, resilient and environmentally sustainable growth.
“The plan prioritises economic diversification and productivity; human capital development; subnational competitiveness based on comparative advantage; private sector-led growth; and climate resilience,” Tinubu said.
“Its success will depend largely on effective implementation at the state and local government levels, making NEC central to aligning national priorities with subnational realities.”
Tinubu said the conference reinforced collaboration, shared accountability and a focus on practical solutions and measurable outcomes.
“We must move decisively from declarations to implementation through data-driven decision-making, peer learning among states and innovative financing models,” he said.
The president said while the task before the nation is demanding, the opportunity remains historic.
He expressed confidence that resolutions from the conference would advance agricultural diversification, including dairy farming, livestock investment and ranching.
Meanwhile, Vice-President Kashim Shettima says economic progress in Nigeria must be measured by how growth improves lives and strengthens communities, not by gross domestic product (GDP) figures alone.
Shettima spoke on Monday at the 2nd national economic council (NEC) conference, themed “Delivering Inclusive Roads and Sustainable National Development: The Renewed Hope National Development Plan 2026-2030”.
He said the post-COVID-19 era has compelled nations to confront structural weaknesses and reduce excessive dependency.
The vice president said President Bola Tinubu has demonstrated commitment to insulating Nigeria’s economy amid rising geopolitical tensions and global economic protectionism.
“The inclusive growth on our radar is not an exercise in sloganeering. We have confronted the macroeconomic obstacles before us. What remains is to ensure that progress filters down to the everyday lives of our people,” Shettima said.
“The journey towards inclusive growth demands sustainable national development, development that balances expansion with equity, opportunity with responsibility, and prosperity with environmental stewardship. It is no longer enough to measure progress by GDP figures alone.
“We must ask harder questions. How does growth transform lives? How does it uplift communities? How does it strengthen national cohesion?”
He described the NEC as a critical platform for delivering inclusive growth, noting that the administration’s mission would be incomplete if opportunities remain uneven across the country.
Shettima added that beyond serving as a policy advisory body to the president, the NEC must remain a vehicle for consensus-building and coordinated action across federal and sub-national governments.
“Nigeria’s future will not be decided in Abuja alone. It will be shaped in our states, in our local communities, and through the choices we make in forums such as this,” he said.
During the conference, Jani Ibrahim, the president of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said sustainable economic progress depends not only on sound policy formulation but on the capacity to implement those policies.
Ibrahim, who was represented by Janet Olisa, his special adviser, said the organised private sector remains central to the process, serving as a bridge between strategy and execution, strengthening implementation credibility, and ensuring that national and sub-national priorities translate into growth, jobs, and productivity.
“Sustainable economic progress is achieved not only through sound policy formulation, but through capacity to operationalise those policies, mobilise capital, scale enterprise, and deliver measurable outcomes across sectors and regions,” the president said.
In furtherance of this mandate, Ibrahim said the association has established NACCIMA Global to strengthen private sector engagement with government and international partners.
“NACCIMA global serves as the association structure platform for translating economic diplomacy, international engagement, and policy frameworks into practical commercial partnership, investment pipelines, and scalable opportunity for Nigerian businesses,” he said.
Ibrahim reaffirmed NACCIMA’s commitment to working with the NEC, the federal government, and state governments to support implementation-focused reforms that deepen competitiveness, attract investment, and deliver inclusive economic outcomes nationwide.
Reimagine your practice with the power of AI “...this is the only Nigerian book I know of on the topic.” — Ohio Books Ltd
Authored by Ben Ijeoma Adigwe, Esq., ACIArb (UK), LL.M, Dip. in Artificial Intelligence, Director, Delta State Ministry of Justice, Asaba, Nigeria.
Bonus:
Get a FREE eBook titled “How to Use the AI in Legalpedia and Law Pavilion” with every purchase.
How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌐 Website: www.benadigwe.com
Ebook Version: Access directly online at: https://selar.com/prv626
_______________________________________________________________________ [A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
_______________________________________________________________________
