The Sustainable and Inclusive Digital Financial Services Initiative of Lagos Business School, is proud to be at the forefront of Nigeria’s journey toward comprehensive economic and financial inclusion, as evidenced by the federal government’s recent initiative. Vice President Kashim Shettima has launched a groundbreaking operating model for financial and economic inclusion aimed at transforming Nigeria into a $1 trillion economy by 2030. This initiative is a testament to the commitment of the President Bola Ahmed Tinubu administration to uplift financially undeserved communities and promote sustainable economic growth.

During the kick-off meeting, Vice President Shettima highlighted the administration’s dedication to providing access to capital and eradicating poverty through strategic legislative interventions and policies. This aligns perfectly with our mission at SIDFS, Lagos Business School to drive economic development and innovation.

The Aso Accord on Economic and Financial Inclusion, unveiled on April 25, 2024, is a comprehensive blueprint designed to ensure universal access to financial services. This accord is integral to the administration’s Renewed Hope Agenda, which aims to combat poverty and insecurity by fostering broad-based prosperity.

Vice President Shettima’s remarks at the meeting underscored the importance of inclusive economic growth and the positive impact of recent policy changes. The upgrade of Nigeria’s credit outlook to positive by Fitch Ratings is a clear indicator of progress under President Tinubu’s leadership. Furthermore, the administration is prioritising measures to mitigate the immediate effects of reforms, such as the Student Loan Act and efforts to combat food insecurity.

We at SIDFS an initiative of Lagos Business School are honoured to collaborate with the federal government, particularly through funding support from The Gates Foundation, to operationalize the Aso Accord. Our Program Lead, Prof. Olayinka David-West, praised the administration’s proactive stance on financial inclusion. She emphasised our commitment to working with various stakeholders to establish a robust legal framework and ensure national coordination.

Our involvement includes capacity-building initiatives and high-profile training for key government officials to enhance practical knowledge on financial inclusion. This initiative, supported by Augment um Advisory, Banwo & Ighodalo, and Ndarani (SAN) & CO., is a strategic step towards embedding financial inclusion policies across Nigeria.

The collaboration with the Vice President’s office and other stakeholders aims to galvanise relevant authorities and ensure the initiative’s success. This engagement is crucial for identifying the right platforms and structures to drive the initiative forward, ensuring that every Nigerian has the opportunity to thrive.

Lagos Business School remains committed to fostering economic development and financial inclusion through strategic partnerships and innovative solutions. We look forward to continuing our work with the federal government and other stakeholders to make this vision a reality.