The National Economic Council (NEC) on Thursday endorsed the framework for the Renewed Hope Development Plan (2026–2030), a medium-term strategy designed to consolidate ongoing reforms and accelerate Nigeria’s journey towards a $1 trillion economy by 2030.
This was one of the key outcomes of the 151st NEC meeting held at the Presidential Villa, Abuja, under the chairmanship of Vice President Kashim Shettima.
The Council commended the Ministry of Budget and Economic Planning for kickstarting the process and urged active participation by all states, ministries, and stakeholders to ensure inclusivity and shared growth.
Vice President Shettima emphasized that the new plan will not only build on the lessons of the expiring National Development Plan (2021–2025) but also align Nigeria’s medium-term priorities with the Nigeria Agenda 2050.
“This is no ordinary transition. It is the bridge between lessons learnt and ambitions pursued. The Renewed Hope Plan will consolidate ongoing reforms, deepen policy continuity, and align our medium-term strategies with the long-term horizon of Nigeria Agenda 2050. It’s a practical roadmap towards a $1 trillion economy by 2030,” the Vice President stated.
He stressed that the new plan would be participatory, bringing in contributions from state and local governments, the private sector, civil society, labour unions, youth groups, and traditional institutions.
Boost for Farmers and Food Security
The Vice President also disclosed that NASENI has scaled up local production of solar-powered irrigation pumps to reduce farmers’ energy costs and expand dry-season farming.
“This is the story of the nation’s refusal to be hostage to petrol-powered systems. It is an intervention to lower energy costs, expand farming seasons, and reinforce food security,” he said.
National Development Plan Transition
The National Development Plan expires in December 2025.its successor, the Renewed Hope Plan 2026–2030, will be developed as the second in a series of six five-year medium-term plans under Nigeria Agenda 2050.
Work will begin in September 2025 to ensure timely completion and alignment with the 2026 budget.
Polio Immunization Campaign
NEC urged the Accountant General of the Federation to expedite the release of funds to guarantee a smooth national immunization campaign.
A nationwide integrated campaign is planned for October, covering measles-rubella, polio, malaria prevention, and neglected tropical disease interventions.
States and partners were advised to strengthen surveillance, adopt technology-driven tracking systems, and maintain strong security support for vaccination teams.
Update on National Accounts (as of 27th August 2025):
Excess Crude Account: $535,823.39
Stabilization Account: ₦78,453,757,583.19
Natural Resources Account: ₦106,727,969,527.59
Resolutions:
Council endorsed the Renewed Hope Plan (2026–2030) as Nigeria’s next medium-term development framework.
States and stakeholders were urged to ensure inclusive participation in the plan’s preparation.
NEC directed the prompt release of funds for the upcoming national polio immunization campaign.
RN
