Regional Economic Development Vision-2040!
The Regional Economic Development Vision 2040 (REDV2040) is a transformative initiative aimed at fostering economic growth, sustainability, and resilience across Nigeria’s six geo-political zones. It provides a strategic roadmap to unlock investment opportunities, enhance industrialization, and create a thriving business environment that drives prosperity.
REDV2040 focuses on building integrated regional economies through targeted investment promotion, infrastructure development, policy alignment, and strategic partnerships. By leveraging innovation, sustainable practices, and cross-border collaboration, the vision seeks to position regions as competitive economic hubs, attracting global investors and ensuring long-term economic stability.
RedV2040 Blueprints!
Drive Inclusive and Sustainable Economic Growth.
- Facilitate regional trade and investment to create competitive economies.
- Support industrialization, entrepreneurship, and innovation in key sectors.
- Strengthen economic diversification to reduce dependency on singular industries.
Establish World-Class Infrastructure and Connectivity.
- Develop and modernize transport networks (rail, roads, waterways, and aviation).
- Expand access to electricity, water, and digital infrastructure for economic growth.
- Improve cross-border trade routes to boost regional economic integration.
Foster Human Capital Development and Innovation.
- Enhance access to quality education, vocational training, and digital literacy.
- Support research, technology transfer, and STEM-focused innovation hubs.
- Strengthen higher education institutions and industry-academia collaborations.
Empower Youth and Women for Economic Leadership.
- Implement targeted programs for youth employment and entrepreneurship.
- Promote gender-inclusive policies for equitable access to finance and markets.
- Strengthen mentorship and leadership programs for young professionals.
Strengthen Governance, Security, and Stability.
- Implement effective governance structures for transparent regional administration.
- Promote peacebuilding initiatives and conflict resolution mechanisms.
- Strengthen legal frameworks for business-friendly policies and investor protection.
Expand Access to Quality Healthcare and Social Services.
- Improve healthcare infrastructure and medical personnel training.
- Strengthen universal health coverage through strategic public-private partnerships.
- Promote mental health awareness and access to essential social services.
Build Resilient Agricultural Systems and Food Security.
- Invest in climate-smart agriculture, irrigation, and mechanization.
- Strengthen regional food production, processing, and distribution networks.
- Expand agricultural financing and insurance for smallholder farmers.
Promote Environmental Sustainability and Climate Action.
- Implement renewable energy projects and sustainable urban planning.
- Strengthen disaster risk management and climate resilience policies.
- Protect biodiversity and encourage responsible natural resource management.
Position Nigeria as a Global Investment and Trade Hub.
- Develop special economic zones (SEZs) to attract foreign direct investment (FDI).
- Promote regional exports through industrial clusters and value-chain development.
- Expand global engagement through investment summits and trade missions.
Enhance Regional Collaboration and Investment Partnerships.
- Establish regional economic councils for policy coordination.
- Strengthen public-private partnerships for large-scale investment projects.
- Facilitate interregional trade agreements to boost economic competitiveness.
Drive Inclusive and Sustainable Economic Growth.
- Facilitate regional trade and investment to create competitive economies.
- Support industrialization, entrepreneurship, and innovation in key sectors.
- Strengthen economic diversification to reduce dependency on singular industries.
Establish World-Class Infrastructure and Connectivity.
- Develop and modernize transport networks (rail, roads, waterways, and aviation).
- Expand access to electricity, water, and digital infrastructure for economic growth.
- Improve cross-border trade routes to boost regional economic integration.
Foster Human Capital Development and Innovation.
- Enhance access to quality education, vocational training, and digital literacy.
- Support research, technology transfer, and STEM-focused innovation hubs.
- Strengthen higher education institutions and industry-academia collaborations.
Empower Youth and Women for Economic Leadership.
- Implement targeted programs for youth employment and entrepreneurship.
- Promote gender-inclusive policies for equitable access to finance and markets.
- Strengthen mentorship and leadership programs for young professionals.
Strengthen Governance, Security, and Stability.
- Implement effective governance structures for transparent regional administration.
- Promote peacebuilding initiatives and conflict resolution mechanisms.
- Strengthen legal frameworks for business-friendly policies and investor protection.
Expand Access to Quality Healthcare and Social Services.
- Improve healthcare infrastructure and medical personnel training.
- Strengthen universal health coverage through strategic public-private partnerships.
- Promote mental health awareness and access to essential social services.
Build Resilient Agricultural Systems and Food Security.
- Invest in climate-smart agriculture, irrigation, and mechanization.
- Strengthen regional food production, processing, and distribution networks.
- Expand agricultural financing and insurance for smallholder farmers.
Promote Environmental Sustainability and Climate Action.
- Implement renewable energy projects and sustainable urban planning.
- Strengthen disaster risk management and climate resilience policies.
- Protect biodiversity and encourage responsible natural resource management.
Position Nigeria as a Global Investment and Trade Hub.
- Develop special economic zones (SEZs) to attract foreign direct investment (FDI).
- Promote regional exports through industrial clusters and value-chain development.
- Expand global engagement through investment summits and trade missions.
Enhance Regional Collaboration and Investment Partnerships.
- Establish regional economic councils for policy coordination.
- Strengthen public-private partnerships for large-scale investment projects.
- Facilitate interregional trade agreements to boost economic competitiveness.
Strategic
Approach
REDV2040-Nigeria will be implemented through Regional Investment Promotion Agencies (RIPA), which will act as economic drivers in each zone. These agencies will Coordinate Investment Attraction, Policy Development, and Partnership Engagements with state governments, the private sector, and international organizations.