In order to stimulate economic activities and generate jobs at the grassroot levels across the country, President Bola Tinubu has presented a new initiative meant to provide financial support for eight million, eight hundred and nine thousand economically active individuals at the ward level across the country.
The President gave the proposal at the National Economic Council (NEC) meeting he chaired at the Presidential Villa on Thursday.
Briefing newsmen after the meeting, the Minister of Budget and National Planning, Atiku Bagudu said the initiative was to ensure that the macro economic successes recorded by the government benefit the grassroots.
He said “Having stabilized the macro economy. The next step is to drill down development to the lowest levels so that we can, in the 8,809 wards of the country simulate economic activity, which we believe will generate employment, reduce poverty, enhance food security and even enhance social protection.
“And this is in line with our Constitution. Chapter Two of our Constitution demands the government, federal, state and local government to harness the resources of the nation and promote national prosperity and efficient, dynamic and self reliant economy. This can only be done cooperatively.
“And Mr president as an ardent believer in federalism today, presented Renewed Hope Ward Based Development Programme as a collaboration between federal state and local governments, a Federation project and to be funded with the increased revenues accruing to the Federation account, as well as other programmes that the federal government and states are undertaking
“Equally to identify in each ward at least 1000 economically active persons that will be supported so that economic activity will be boosted in each ward of the Federation. The idea is to utilize this unique feature of our economy to generate double digit growth in most of the wards as we march towards a $1 trillion economy.
“It is agreed the NEC pass a resolution endorsing and supporting approving the Renewed Hope Ward Development Programme as a collaborative undertaking between federal, state and local government and the identification of the economically active individuals in the respective wards, as well as making the Federal Ministry of budget and the economic planning the Secretariat of the programme.”
Speaking on the initiative, the Chairman of the APC Governor’s Forum and the governor of Imo State, Hope Uzodinma, acknowledged that the states were getting more money from the Federation accounts owing to several reforms implemented by the President.
He said “we acknowledged his triumphs for revenue generation and the results already recorded as a result of the various reform policies of his administration. The country is earning more money now; the subnational governments are also earning more money.
The president came up with a programme that will fast track the process of this additional money creating a bigger impact on Nigerians by making sure that it trickles down to the grassroots.”
Uzodinma said that the President acknowledged “the challenges bordering on environmental impact assessment around the major projects his legacy projects, particularly the Lagos Calabar coastal road and the Sokoto Badagry Road, and advocated for the need for collaboration between the national government and su-bnational government for a committee to be set up so that governors and the national government will work together for earlier actualization of this project.
“For that reason, a committee will be set up working within the Surveyor General of the Federation, and also subnational government to be on the same page for the interest of Nigeria.
“In fact, Mr president’s briefing today became a catalyst to strengthen our morale and motivate our people into working and doing the needful.”
