Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has explained that the Renewed Hope Ward Development Programme, recently launched by President Bola Tinubu, is designed to ensure that the people experience the benefits of the ongoing economic reforms.
The minister spoke during a courtesy visit to his office in Abuja by the President of the Institute of Chartered Accountants of Nigeria, Dr Haruna Nma Yahaya.
He stated that the plan, which would engage over 10 million economically active persons across the 8,809 wards nationwide, aims to go beyond palliatives to achieve genuine empowerment by directing development efforts at the grassroots level.
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“Each of our 8,809 wards is unique — with people fishing, farming, mining and food processing — but they are limited by access to capital and support. If we can unlock entrepreneurship at that level, the benefits of reform will be more evenly shared,” Bagudu said.
He explained that the initiative is expected to stimulate economic activities in rural communities, accelerate the federal government’s revenue drive, and contribute towards achieving the $1 trillion economy target by 2030.
Bagudu noted that the Renewed Hope Agenda reforms were crafted to address decades of underinvestment in critical sectors, which had left the economy stagnant.
“Our current reality is that we are not where we want to be, and Mr. President has made that clear. But instead of playing the blame game, we are making long-overdue choices — difficult decisions similar to what accountants make when restructuring troubled companies. It’s no different with a country,” he said.
