The federal government has called on the World Bank to support its Renewed Hope Ward Development Programme, a grassroots initiative aimed at stimulating economic activities nationwide and advancing President Bola Tinubu’s vision of achieving a $1 trillion economy by 2030.
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, made the appeal in Abuja on Thursday during a meeting with the World Bank’s new Country Director, Mr. Matthew Verghis. He explained that the programme, recently approved by the National Economic Council and coordinated by his ministry, is designed to drive bottom-up growth and reduce poverty across the country.
“The objectives, among others, are to promote sustainable and inclusive growth at the ward level, which will contribute to national development,” Bagudu said. “This will support the $1 trillion GDP target by 2030 and help lift all Nigerians out of poverty.”
The initiative, according to the minister, will focus on mapping economic opportunities in all 8,809 wards and supporting citizens who are economically active to create more value. “It is about creating sustainable and inclusive growth from the grassroots,” he added.
Bagudu also said Nigeria is studying lessons from other countries while developing its own model. “We have examined China’s experience of lifting 852 million people out of poverty, India’s rural transformation, and Kenya’s bottom-up strategy. Nigeria can incorporate these lessons, but with a model that reflects our constitutional federalism and ensures all three tiers of government take responsibility,” he explained.
He linked the programme to Nigeria Agenda 2050, describing it as ambitious but achievable. He noted that the long-term strategy reflects national consensus, in line with Chapter Two of the Constitution, where all tiers of government are expected to contribute toward economic, social, and environmental goals. “Our duty is to translate this vision into actionable five-year plans and annual budgets that are people-centred and results-driven,” Bagudu said.
The minister expressed appreciation to the World Bank for its partnership, particularly during the past 28 months of economic reforms. He described the collaboration as vital to achieving progress. “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. Together, we have taken bold steps that are beginning to restore macroeconomic stability and inspire confidence at home and abroad,” Bagudu said.
He stressed the importance of sustaining reforms that have already been introduced. “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. The task now is to build on these achievements and ensure that no willing Nigerian is left behind,” he added.
Responding, Verghis commended Nigeria for its recent reforms, describing them as a turning point for the economy. “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 said.
The World Bank Country Director described the Renewed Hope Ward Development Programme as a promising initiative but advised that it should be built on existing, proven structures.
“The challenge is not just in designing new programmes but in building on what already works. Existing projects such as NG-CARES and the Nigeria for Women Project have established effective structures. We are eager to expand on these models, bring in global experience from India, China, and Kenya, and provide both technical and financial support to strengthen implementation,” Verghis explained.
He highlighted the importance of aligning grassroots development efforts with Nigeria’s national priorities. “We understand the objectives are jobs, prosperity, and inclusion. For the poorest, immediate support is needed; for the youth, opportunities for productivity; for the nation, a pathway to sustained growth. These are challenges we want to work with you to address,” he said.
Bagudu reaffirmed his ministry’s role in ensuring coordination across all levels of government to drive economic growth. “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 stated.
Verghis’s visit to Nigeria, his first official engagement since assuming office, reaffirmed the partnership between the country and the World Bank in the pursuit of inclusive growth, poverty reduction, and sustainable development.