President Bola Ahmed Tinubu has said Nigeria is entering a “defining crossroads” as his administration seeks to move the country from economic recovery to long-term transformation under a new national development plan.
Speaking at the Second Edition of the National Economic Council (NEC) Conference at the State House in Abuja on Monday, Mr Tinubu outlined the government’s Renewed Hope National Development Plan for 2026–2030, which he said would focus on inclusive growth, economic diversification and climate resilience.
The president said the plan was designed to deliver sustainable development and improve living standards across the country.
“The theme of this conference speaks directly to our national aspirations,” he said. “It reflects our resolve to move from recovery to transformation, and from narrow growth to one that is inclusive, resilient and sustainable.”
Economic reforms and fiscal coordination
Mr Tinubu acknowledged that Nigeria faced major structural challenges, including unemployment, poverty, infrastructure deficits and fiscal constraints. However, he said his administration had already taken “bold and necessary reforms” to stabilise the economy and restore investor confidence.
He said allocations from the Federation Account Allocation Committee (FAAC) to states and local governments had increased and become more predictable, enabling subnational governments to pay salaries, invest in infrastructure and deliver public services.
The president also highlighted improved revenue performance, stronger public financial management and enhanced fiscal coordination as measures that had strengthened macroeconomic stability.
Mr Tinubu said infrastructure development remained a key priority, with investments in transportation, electricity, digital connectivity, housing and irrigation aimed at boosting productivity and inclusive growth.
He added that social investment programmes had been expanded to support vulnerable households, young people, women and small businesses.
The Renewed Hope Ward Development Project, he said, was designed to promote grassroots development through a bottom-up approach.
“These successes reflect strong collaboration among federal and state governments, development partners, and the private sector,” he said.
The president stressed that the success of the new development plan would depend heavily on implementation at state and local government levels.
He said the plan would prioritise economic diversification, human capital development and private sector-led growth, while strengthening climate resilience.
Mr Tinubu also called for greater collaboration among federal and state governments, alongside innovative financing and data-driven decision-making.
“Nigeria’s diversity is our strength. When every state grows, Nigeria grows,” he said.
The president urged policymakers to focus on practical results rather than declarations, saying the conference should lead to measurable outcomes.
He described the Renewed Hope Agenda as a “national compact” aimed at delivering prosperity and fairness.
Mr Tinubu formally declared the conference open, expressing confidence that its resolutions would help accelerate inclusive growth and sustainable national development in Nigeria.
