My Covenant with Nigerians

Double the economy to a GDP of about US$900 billion by 2030

“Our policy priority is to double the size of the economy and achieve a GDP of approximately US$900 billion by 2030.”

Source up to 70% of federal spending plans from the private sector

“We will expect a sizeable proportion, up to 70%, of the spending plans of the Federal Government to come from the private sector.”

Expand manufacturing output from 9% to 30% of GDP by 2030

“By 2030, the manufacturing sector’s output shall be expanded from 9% to 30%”

Export 10-15% of manufacturing output by 2030

“c. The export of 10-15% of manufacturing output by 2030”

Raise the Export Expansion Facility Fund from N50 billion to N250 billion

“b. Substantially increase the manufactured export funding window (the Export Expansion Facility Fund) currently N50 billion to at least N250 billion to enhance access to credit by manufacturers of finished, non-oil products.”

Promote Special Economic Zones through NEPZA across six geopolitical zones

“c. Embolden the Nigerian Export Processing Zone Authority (NEPZA) in active promotion of Special Economic Zones (SEZs) across the 6 geo-political zones.”

Raise the tax-to-GDP ratio to 20% by 2030

“A tax/GDP ratio of 7-8% is unacceptable. We shall ensure that by 2030 this is increased to 20%.”

Cut the recurrent share of the budget from 76% to 35% by 2030

“2. Improve spending efficiency of the federal government and block leakages drastically. This will include measures to reduce the share of recurrent revenue in the budget from 76% in 2020 (Budget Office) to 35% by 2030.”

Absorb 50-60% of the 5 million annual labour-market entrants

“b. As the economy responds to the various reform measures, it will be expected to absorb between 50-60% of the 5 million new entrants into the labour market annually.”

Add at least 100,000 entrepreneurs yearly through the NRIF fund

“When passed, the Fund will receive funding from the Central Bank of Nigeria’s MSME Fund, Development Bank of Nigeria, Bank of Industry and other private sector institutions and donor agencies. It is expected that at least 100,000 budding entrepreneurs will be added annually;”

Scale ITF internships and apprenticeships to 2 million workers yearly

“We shall improve the technical and financial capacity of the Industrial Training Fund (ITF) to operate its internship and apprenticeship programmes, at a much higher scale to cover a minimum of 2 million workers per year.”

Expand TVET and vocational centre capacity to 1,000,000 by 2030

“The absorptive capacity of the formal post-basic TVET and Vocational Centres will be increased from the current total enrolment and completion of less than 250,000 students to 1,000,000 by 2030;”

Relaunch NOAP with 100,000 master craftspersons training 1,000,000 apprentices

“We shall re-launch the National Open Apprenticeship Programme (NOAP) with a special focus on young men and women who may not have had the opportunity to attend school or complete basic education. This programme will recruit, annually, 100,000 Master Crafts Persons (MCPs) who will train 1,000,000 apprentices in various trades.”

Facilitate an SME Venture Capital Fund attracting USD250 million

“2. Facilitate the establishment of the SME Venture Capital Fund by the private sector to provide longer-term capital for targeted small firms. We shall aim to attract a minimum of USD250 million of private sector funding for Nigerian small businesses;”

Raise the MSME funding window from N200 billion to N500 billion

“3. Establish a platform for de-risking SME lending and increase the MSMEs funding window currently from N200 billion to N500 billion and set aside the same for the new platform;”

Promote the Nigerian film industry to become the world's third largest

“9. Actively promote the Nigerian film industry to make it the 3rd largest film industry in the world by:”

Produce at least 5 million barrels of oil per day by 2030

“By 2030, Nigeria shall produce a minimum of 5 million barrels per day, subject to OPEC production quota.”

Raise the downstream petroleum share of GDP from 0.5% to 2% by 2030

“b. Increase the contribution of the downstream sector to GDP from approximately 0.5% to at least 2% by 2030”

Make Nigeria a net exporter of refined petroleum by 2030

“d. Nigeria as a net exporter of refined petroleum products with a dominance of the West Africa subregion by 2030”

Intensify rural electrification for over 85 million people without grid access

“e. Intensify rural electrification projects to ensure electricity access to over 85 million Nigerians currently without access to grid electricity.”

Invest over US$5 billion yearly in transmission and distribution

“To this end, to strengthen the sector on critical transmission and distribution infrastructure alone, our investment commitment shall exceed US$5 bn annually to ensure that all generation plants operate at capacity and their output is effectively transmitted and distributed ahead of adding additional generation capacity.”

Strengthen the Rural Electrification Agency to reach 80 million people

“Strengthen the capacity of the Rural Electrification Agency (REA) to intensify rural electrification projects and ensure electricity access to over 80 million Nigerians currently without access to grid electricity.”

Launch emergency power programmes within the administration's first year

“We shall initiate and implement an emergency power programme (EPPs) that can deliver additional capacity in certain key areas (as was done with AES in Lagos and Geometric & Aggrecko in Abuja). As a short-term measure to ensure enhanced supply within the first year of the new administration, we shall:”

Refine 50% of Nigeria's crude oil output domestically by 2030

“1. Prioritize investment in nameplate capacity and ensure that Nigeria starts to refine 50% of its crude oil output by 2030.”

Allocate at least 25% of the federal budget to education

“The education sector shall be guaranteed increased investments with a commitment of a minimum of 25% of the annual budget of the federal government.”

Transfer funding and control of primary education to local governments

“Responsibility for funding and control of public primary education shall be transferred to the local governments.”

Transfer federal unity schools and federal tertiary institutions to states

“1. Under the proposed arrangements, the State governments will assume responsibility for all the federal unity schools, and Federal Ministry of Education-owned and funded universities, polytechnics, technical colleges, and colleges of education (CoEs) located in their respective areas.”

Prioritise TVET funding aligned to the Nigeria Skills Qualification Framework

“2. Accordingly, Technical and Vocational Education and Training (TVET) shall receive priority attention in policy and funding. The TVET systems shall be improved and capacitated to deliver quality and relevant training and assessment aligned to the Nigeria Skills Qualification Framework (NSQF).”

Establish a first-line-charge fund for science and technology education

“The central government will collaborate with the federating units to establish a dedicated fund with a first-line charge from the Federation Account to ensure a regular flow of resources for the expansion and improvement in the quality of science, engineering, and technology education.”

Raise primary and secondary enrolment and graduation rates by 2030

“Increase primary school enrolment from 60% to 90% and the graduation rate from 63% to 82% by 2030. We shall also increase secondary school enrolment from 47% to 80% and the graduation rate from 56% to 75% by 2030.”

Establish a supervisory body to evaluate institutions in the states

“b. Establish a supervisory body that will ensure a high standard of education through performance evaluation of educational institutions in the federating units”

Establish a Private Education Regulatory Agency to set operational standards

“3. Establish a Private Education Regulatory Agency to set operational standards – quality assurance and control, regulations, and modus operandi of delivering private educational outfits at all levels.”

Move toward universal access to affordable healthcare for all by 2030

“We shall put the appropriate measures in place to accelerate Nigeria’s transition towards achieving universal access to affordable and quality healthcare services for all by 2030, as follows:”

Extend basic primary healthcare packages to 65%, rising to 80% by 2030

“Working with States to advance and incentivize a realistic primary health care service delivery plan that ensures that at least 65% of Nigerians have access to a defined basic Primary Health Care (PHC) and Non-Communicable Diseases (NCD) services package gradually rising to at least 80% coverage by 2030.”

Halve the number impoverished by out-of-pocket health costs by 2030

“5. Scaling up national health insurance coverage and financial protection schemes to reduce by at least 50% the number of Nigerians who are impoverished due to out-of-pocket health care expenses by 2030.”

Reform the Federal Ministry of Health and its agencies

“Our first step is to ensure a comprehensive reform of the Federal Ministry of Health and its agencies.”

Roll out a costed RMNCAH primary care plan to all 36 states

“The Federal Ministry of Health (FMOH), NPHCDA and NHIS support States in co- developing and rolling out a realistically costed integrated RMNCAH PHC service delivery plan to all 36 States and FC.”

Establish a Healthcare Quality and Standards Commission

“Improving Quality of Care and Clinical Governance: In line with the National Health Act, establishing and enforcing the country’s first Healthcare Quality and Standards Commission, which will outline a system for improving and assuring the quality of healthcare services in public and private health facilities through:”

Incentivise the private sector to build two tertiary centres of excellence

“1. Incentivising the private sector to develop at least two world-class, multi-specialty tertiary centres of excellence in the country.”

Institutionalise screening programmes for preventable diseases such as cancer

“4. Institutionalize health screening programs for preventable diseases like cancer.”

Deploy surveillance technology against pipeline vandalism and crude theft

“g. We shall deal more decisively with security issues, pipeline vandalism and crude oil theft. We shall deploy modern technology in pipeline surveillance as an optimal way of controlling the menace of vandalism and crude theft”

Recruit 1,000,000 additional police officers within four years

“Massive recruitment into all of Nigeria’s security outfits especially the Nigeria Police so that additional 1,000,000 policemen and women will be added to the existing total of less than 400,000 - in 4 years.”

Initiate a constitutional amendment allowing states to establish police

“Initiating a constitutional amendment to allow States who are willing and able to do so to establish their own State Police. This is to enhance local security based on the laws of those States, as distinct from federal laws which will be enforced by the Federal Police.”

Use the Presidential Committee on Barracks Rehabilitation for personnel welfare

“Taking bold and effective Presidential interventions such as the Presidential Committee on Barracks Rehabilitation (PCBR) to address issues of motivation and welfare of our officers and men in the various security outfits.”

Reinvigorate the National Orientation Agency for unity and peacebuilding

“Re-invigorating the National Orientation Agency (NOA) to carry out its mandate of sustainable mobilization of Nigerians on issues of national unity, peaceful coexistence, cooperation, and consensus-building as strategies for creating the appropriate socio-political climate for peacebuilding.”

Train security agencies in intelligence and counter-terrorism

“Training and retraining of security agencies on intelligence, contemporary counter terrorism measures etc.”

Capture more Nigerians in the NIN identity database by 2030

“Strengthening the existing personal identification infrastructure to enable more Nigerians to be captured in the NIN by 2030 in accordance with SDG16.9 (short-medium term).”

Integrate national identification numbers and biometric databases by 2030

“Integrate the multiple identification processes and numbers in existence (e.g. BVN, international passport, voter registration number, etc.) by streamlining citizen identification and consolidating the biometrics database (long term) by 2030.”

Raise infrastructure stock to about 65% of GDP by 2030

“Our goal shall be to double our infrastructure stock to approximately 65% of GDP by 2030.”

Rehabilitate 5,000 km of roads and build 5,000 km of rail

“The rehabilitation and development of up to 5,000 Km of roads and the accelerated construction of up to 5,000 Km of modern railway lines”

Develop a new National Transport Policy promoting intermodal transport

“a. Develop a new National Transport Policy that addresses issues relevant to promoting intermodalism including institutional fragmentation, intermodal regulation, intermodal connectors and measuring transport system performance.”

Vest the Ministry of Transport with policy and regulatory oversight

“b. Achieve policy consistency and effective regulatory framework by vesting the Ministry of Transport with policy and regulatory oversight.”

Revise the transport Industry Framework to narrow the ministry's role

“e. Revise the existing Industry Framework to ensure that the Transport Ministry is focused on policy development and budgeting matters only.”

Introduce a new national transport regulation system

“f. Introduce a new national transport regulation system to ensure balanced regulation and guarantee appropriate pricing.”

Implement vertically integrated railway privatisation, especially freight lines

“a. Implement a vertically integrated railway privatization, especially for freight-based railways.”

Set up a National Railway Development Agency as rail regulator

“d. Set up the National Railway Development Agency that will take ownership of the regulatory setting and determine public service obligations.”

Raise agricultural output to about N55 trillion by 2030

“We would increase agricultural output from the current level of N41.13 trillion (NBS, Q4: 2021) to about N55 trillion by 2030. This would imply an annual growth in the agricultural sector from the current 2.1% to 3.7% per annum between 2023 and 2030.”

Consider commercialising the River Basin Development Authorities

“4. Consider the commercialization of River Basin Development Authorities (RBDAs).”

Build on the federal Silo Concession Model

“5. Build on the FGN Silo Concession Model.”

Facilitate private commodity marketing corporations for major commodities

“Facilitate the establishment of private sector-led commodity marketing corporations around each of the major commodities for price and income stability.”

Strengthen the land reform committee and relaunch systematic land titling

“Accordingly, we shall strengthen the Presidential Committee on Land Reform and ensure the re-launch of the Systematic Land Titling Registration Programme across the country.”

Establish private commodities exchanges in major crop-producing regions

“Strengthen the markets for agricultural commodities through the establishment of private sector-led commodities exchanges around the major crop production regions of Nigeria.”

Revisit Staple Crop Processing Zone initiatives with the AfDB and IBRD

“To this end, the Federal government will work closely with the AfDB and IBRD to revisit the SCPZ initiatives under the Agricultural Transformation Agenda (ATA).”

Expand agricultural finance through NIRSAL de-risking of bank lending

“Continue to improve the agriculture sector’s access to financial services, through NIRSAL by de-risking lending to the sector by commercial and development banks.”

Establish a Technology Support Programme funded by a Diaspora Bond

“1. The establishment of a Technology Support Programme (TSP) to be funded by a Diaspora Bond.”

Implement a four-year plan to digitise major government operations

“a. Implement a four-year plan for the digitization of major government operations such as procurement to achieve transparency and eliminate leakages.”

Develop a policy regime to encourage fintech growth and adoption

“We shall develop a robust policy regime that will encourage the growth and adoption of fintech products in Nigeria to serve our ever-growing population of financially sophisticated citizens.”

Deploy technology to reduce the unbanked population

“Our administration will deploy technology to reduce the unbanked population.”

Establish a National Research and Innovation Fund for technology

“2 Promote research in science and technology through the establishment of a National Research and Innovation Fund with funding windows to cater for employerbased training schemes, capacity support scheme for trainer providers, and technology development grants.”

Market Nigeria as an ICT outsourcing destination

“8. Provide special focus on the ICT sector and aggressively market Nigeria as an outsourcing destination.”

Deploy technology infrastructure for end-to-end government operations

“a. Deployment of appropriate technology infrastructure that supports the end-to-end operations of government businesses for transparency, accountability, efficiency and effectiveness across all Ministries, Department and Agencies (MDAs).”

Inaugurate a Presidential Data Integration Committee for national databases

“b. Inaugurating a Presidential Data Integration Committee for improving the functionality and integration of all the country’s national databases”

Require the Auditor-General to report within six months of year-end

“Improve the quality of government expenditure by complementing the work of the due process office with operational independence for the office of the Auditor-General of the Federation, who shall be required to present his report within 6 months of the end of each budget year.”

Create an Office of Management and Budget in the Presidency

“Create a dedicated Office of Management & Budget within the Presidency, which will be charged with a developmental focus on budgeting.”

Separate the two Accountant General offices for federation and government

“Separate the office of the Accountant General of the Federation (responsible for the Federation Account) from that of the Accountant General of the Federal Government (responsible for federal government’s finances).”

Relocate the Niger Delta Ministry from Abuja to the region

“Relocating the Niger Delta Ministry from Abuja to the Niger Delta region to enable it become closer to the stakeholders and beneficiaries of the initiatives;”

Overhaul the Niger Delta Ministry and NDDC to remove overlaps

“Overhauling the Niger-Delta Ministry & NDDC to remove overlaps and making them more functional and efficient in service delivery;”

Pass budgets before the start of each fiscal year

“Improve Executive-Legislature relations and interactions to ensure budgets are passed before the commencement of the fiscal year.”

Set up a Corruption Cases Review Committee with civil society

“f. Set up a ‘Corruption Cases Review Committee’ with representation from professional legal organizations such as the Nigeria Bar Association - NBA, Non-Governmental Organizations (NGOs), Civil Society Organizations (CSOs) and the Media to review all major corruption cases to ensure that arbitrary or selective investigation and prosecution of major corruption cases by all anti-corruption agencies are permanently eliminated.”

Create special tribunals to try corruption cases

“c. Creating Special Tribunals to try corruption cases.”

Establish community and leisure centres in every local government area

“Establishing a network of community and leisure centres in at least every local government area in the country.”

Lift at least 10 million people out of poverty annually

“Our policy objective will be first, to endeavour to halt the drift into the poverty trap and second, to lift at least 10 million people annually from poverty. This would imply that by 2030 about 70 million people will be lifted out of poverty and the average poverty headcount reduced to approximately 25%.”

Expand social protection spending from 3.1% to 7% of GDP by 2030

“To improve coverage, we will gradually expand the current Social Protection Spending currently estimated at approximately 3.1% of GDP to 7% by 2030.”

Extend credit via asset titling to 2 million microenterprises yearly

“b. Enhancing micro enterprises’ access to credit through asset titling and group collateral. It is expected that this will impact a minimum of 2 million microenterprises annually.”

Provide microcredit to 2 million home-based poor women annually

“c. Instituting microcredit schemes for home-based income-generating activities (survival-oriented activities) directed to poor women who are general constrained by family responsibilities and social barriers from entering the labour market as wageworker. (Target 2 million home-based poor women annually).”

Review the School Feeding Programme for transparency and value

“a. The School Feeding Programme. The current School Feeding Programme shall be reviewed to ensure transparency, efficiency, and value-for-money.”

Reserve at least 40% of political appointments for women and youth

“a. Increasing the number of appointments made to women and young people in government and government committees by identifying competent individuals and promoting them into responsible ministerial, ambassadorial, and executive positions. Our administration commits to setting aside at least 40% of all political appointments to this category.”

Create a special tribunal for crimes against women

“g. Creating a special tribunal for crimes against women including domestic violence, physical or sexual abuse, and rape;”