FG Seeks World Bank Support for Grassroots Economic Plan
By Patience Ikpeme
The Federal Government has called on the World Bank to support its new Renewed Hope Ward Development Programme, a strategic initiative aimed at boosting economic activities at the grassroots.
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, made the appeal during a meeting in Abuja with the bank’s new Country Director, Mr. Matthew Verghis.
Bagudu told the World Bank team that the new programme, which was recently approved by the National Economic Council, would help achieve President Bola Tinubu’s target of a $1 trillion economy by 2030.
He explained that the initiative is designed to drive bottom-up growth. “This programme will map economic opportunities in all 8,809 wards across the country and support economically active citizens to generate more value,” Bagudu said.
The Minister then added that, “the objective is clear: to support our ambition of achieving a $1 trillion GDP by 2030 and lifting millions of Nigerians out of poverty.”
He noted that Nigeria is learning from other countries while developing a uniquely Nigerian approach. “We have examined China’s experience of lifting 852 million people out of poverty, India’s rural transformation, and Kenya’s bottom-up strategy,” he said. “Nigeria can incorporate these lessons, but with a model that reflects our constitutional federalism and ensures all three tiers of government take responsibility.” He also spoke about the Nigeria Agenda 2050, the country’s long-term strategic plan, describing it as a key driver of national development.
Bagudu expressed gratitude to the World Bank for its ongoing support during the recent economic reforms. “The World Bank team has collaborated with us not just as partners but as members of the same team. We could not have achieved the results we have today without your support,” he said.
The minister stressed the importance of maintaining the momentum of reform, stating, “Our reforms have demonstrated the value of staying the course in the right direction. With effective policies and difficult but necessary choices, we are beginning to see results.” He said the task now is to build on these achievements and “ensure that no willing Nigerian is left behind.”
In his response, Mr. Verghis congratulated Nigeria on its bold reforms, describing them as a “development breakpoint” that could reset the country’s trajectory. “Nigeria’s recent decisions represent a critical moment. Such choices are not easy, but they create opportunities for a new path. The World Bank stands ready to continue supporting Nigeria in maintaining these reforms and increasing their impact,” he stated.
He praised the Renewed Hope Ward Development Programme and said the bank is eager to expand on existing successful models like NG-CARES and the Nigeria for Women Project.
“The challenge is not just in designing new programmes but in building on what already works,” he said, adding that the bank would provide both technical and financial support to strengthen implementation.
Concluding the meeting, Minister Bagudu said that his ministry is a coordinating body. “This Ministry is not in competition with any other. Our role is to coordinate, convene, and ensure that all levels of government work towards the same goal: inclusive prosperity for every Nigerian,” he said.
