Bagudu seeks World Bank support for devt programme

MINISTER of Budget and Economic Planning, Abubakar Bagudu, has called on the World Bank to support the Renewed Hope Ward Development Programme, which seeks to boost economic activities at the nation’s grassroots.

The minister spoke yesterday in Abuja during a meeting with the bank’s new Country Director, Mr Matthew Verghis, and stated that the new initiative would help achieve President Bola Tinubu’s target of a $1 trillion economy by 2030.

“The objectives, among others, are to promote sustainable and inclusive growth at the ward level, which will contribute to national development,” Bagudu told Verghis and his team, explaining, “This will support the $1 trillion GDP target by 2030 and help lift all Nigerians out of poverty.”

In response, Verghis congratulated Nigeria on the bold reforms undertaken, 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 emphasised the importance of utilising proven approaches.

“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’s first official engagement with the ministry since taking office reaffirmed the strong partnership between Nigeria and the World Bank in promoting inclusive growth, poverty alleviation, and sustainable development.

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