The National Economic Council (NEC) on Thursday, August 28, approved the Nigerian Medium-term National Development Plan 2026–2030, also called the Renewed Hope Economic Development Plan, designed to advance ongoing reforms and support President Bola Ahmed Tinubu’s $1 trillion economic growth ambition.
Speaking to State House correspondents after the 151st NEC meeting chaired by Vice President Kashim Shettima, the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, explained that the plan would replace the current 2021–2025 framework set to expire in December.
Bagudu said the Renewed Hope Plan is rooted in Nigeria’s 30-year Agenda 2050, crafted in 2020 with contributions from the private sector, civil society, political parties, traditional rulers, and other stakeholders.
“The Renewed Hope Plan 2026–2030 will ensure policy continuity, consolidate ongoing reforms, and respond to emerging socioeconomic challenges.
“It will accelerate job creation, improve human capital, expand sustainable infrastructure, enhance food security, and strengthen social protection,” Bagudu stated.
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He added that the framework would serve as a bridge between the reform drive of the Tinubu administration and the broader vision outlined in Agenda 2050.
Preparatory work, he said, would begin this month to enable President Tinubu officially launch the plan before the year ends.
According to the minister, all levels of government, alongside the private sector, labour unions, civil society groups, youth, and traditional institutions, will be involved in shaping the plan.
To manage the process, he revealed that three governance structures would be created: a national steering committee, a central working group, and technical working groups co-chaired by public and private sector representatives, with governors representing each geopolitical zone.
Bagudu noted that members of the Council, including Governor Chukwuma Soludo of Anambra State, contributed valuable insights drawn from their experiences with past development strategies.
“The Council approved the proposed new national development plan, the Renewed Hope 2026–2030, and urged effective participation by all states and stakeholders to guarantee inclusivity and accelerated growth,” the minister said.