Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has explained that the Renewed Hope Ward Development Programme, recently launched by President Bola Tinubu, is designed to ensure that the people experience the benefits of the ongoing economic reforms.

The minister spoke during a courtesy visit to his office in Abuja by the President of the Institute of Chartered Accountants of Nigeria, Dr Haruna Nma Yahaya.

He stated that the plan, which will engage over 10 million economically active persons across the 8,809 wards nationwide, aimed to go beyond palliatives to achieve genuine empowerment by directing development efforts at the grassroots level.

“Each of our 8,809 wards is unique—with people fishing, farming, mining and food processing—but they are limited by access to capital and support.

If we can unlock entrepreneurship at that level, the benefits of reform will be more evenly shared,” Bagudu explained. This, the minister emphasised, would boost economic activities at the grassroots, catalyse the federal government’s drive to increase revenue and achieve the $1 trillion economy target by 2030.

He stated that the reforms under the Renewed Hope Agenda aimed to address the country’s economic stagnation, which resulted from decades of underinvestment in vital sectors of the economy. “Our current reality is that we are not where we want to be, and Mr. President has made that clear.

But instead of playing the blame game, we are making long-overdue choices—difficult decisions similar to what accountants make when restructuring troubled companies. It’s no different with a country,” Bagudu stated.

Speaking earlier, ICAN President, Yahaya, praised the minister for his exemplary leadership in guiding the ministry, noting that during his tenure, the ministry had achieved significant progress in budget implementation, including the expansion of infrastructural development across the country.

He requested a partnership with the ministry to provide capacity building and technical assistance through robust financial and strategic management tools, as well as programmes for Accounting Officers focusing on ethical governance and anti-corruption.

He explained that the purpose of the visit was to extend an invitation to the minister to deliver a keynote address at the 55th Annual Accountants’ Conference scheduled for October 6 to 10, 2025, and to seek sponsorship for accountants from the ministry to attend the conference.