PreCEFI sets agenda for reform implementation to achieve 1 trillion economy

By Seun Ibiyemi

The newly inaugurated Presidential Committee on Economic and Financial Inclusion (PreCEFI) has been assigned its terms of reference, officially marking the start of its mandate to oversee and implement key economic reforms under the Aso Accord.

The committee chaired by Vice President Kashim Shettima,  is tasked with driving Nigeria’s economic transformation towards the federal government’s ambition of achieving a trillion-dollar economy.

The committee will focus on fostering inclusive economic growth and bridging financial gaps across the country.

According to the terms of reference released on February 18, 2025, PreCEFI will operate under two subcommittees: the Governance Committee (GovCo) and the Technical Implementation Committee (TechCo), supported by an implementation secretariat.

The Governance Committee (GovCo), chaired by Vice President Shettima, with Finance Minister Wale Edun as Deputy Chairman, will provide high-level strategic oversight. Its duties include ensuring alignment with national economic strategies, approving policy frameworks, and facilitating resource mobilisation.

Meanwhile, the Technical Implementation Committee (TechCo), led by NITDA Director-General Kashifu Inuwa Abdullahi, will operationalise policies, manage EFI initiatives, and ensure their scalability.

The subcommittee will also focus on innovation, data-driven monitoring, and financial inclusion strategies.

The committee’s secretariat, headed by Dr. Nurudeen Abubakar Zauro, will coordinate activities between the two subcommittees and key stakeholders to ensure effective execution of the Aso Accord’s objectives.

With a diverse membership including government officials, private sector leaders, development partners, and even traditional rulers as Economic and Financial Inclusion Ambassadors, the PreCEFI aims to drive significant economic progress and financial inclusion reforms across Nigeria.