Plateau State Governor, Barr. Caleb Manasseh Mutfwang, has declared that the state is steadily charting a path toward economic prosperity, as he participated in the May 2025 edition of the Nigeria Development Update (NDU)—a flagship economic report by the World Bank—held in Abuja.
The event, themed “Building Momentum for Inclusive Growth”, brought together high-level policymakers, financial experts, and development stakeholders to assess Nigeria’s economic direction. The session featured key figures such as the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso; Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani; and Managing Director/CEO of UAC Foods Ltd., Mr. Oluyemi Oloyede.
In his remarks, Governor Mutfwang stated,
“Plateau is on the rise and steadily charting a course toward economic prosperity. Yes, revenue to the state has increased—there’s no doubt about that. But we cannot ignore the harsh reality that purchasing power has significantly declined.”
He emphasized the importance of responsible fiscal management, ongoing peer reviews among state leaders, and a sharp focus on local economic strengths to sustain growth.
Highlighting progress in Internally Generated Revenue (IGR), the Governor noted a leap from ₦800 million to over ₦3 billion monthly, attributing the surge to strategic investments in agriculture and livestock. He disclosed that the state has quadrupled its agriculture budget from ₦3 billion in 2023 to ₦13 billion in 2024 and established a Ministry of Livestock to further capitalize on Plateau’s comparative advantage in animal farming.
Yet, insecurity remains a major fiscal burden.
“We’re spending a lot to tackle insecurity, which affects microeconomic stability. But we are offering our people hope. Based on the NDU report, we’re on the right track, and that gives us confidence,” Mutfwang asserted.
He also outlined the government’s ongoing efforts to support vulnerable populations:
• Agricultural subsidies to increase access to inputs for farmers.
• A cash-transfer initiative in the transport sector that subsidizes daily commuting for over 8,000 passengers, equating to roughly ₦39,000 per person monthly.
• Collaborations with the Nigerian Railway Corporation to revive rail services in Plateau.
• 100% increase in student scholarships and subsidized tuition in tertiary institutions.
• Expanded subsidies in healthcare and education, targeting indigent and vulnerable citizens.
In his opening remarks, Mr. Taimur Samad, Acting World Bank Country Director for Nigeria, emphasized that the NDU offers data-driven insights into Nigeria’s economic direction and challenges.
“This edition focuses on inclusive growth—growth that benefits all Nigerians by creating jobs and broad-based opportunities,” he said.
While noting improved fiscal trends and rising foreign reserves, he warned that persistently high inflation remains a key threat, requiring the CBN to maintain tight monetary policies.
Presenting the NDU overview, Mr. Alex Sienaert, Lead Economist, called for a shift toward private sector-led growth, with the public sector acting as a facilitator by improving the business environment.
Governor Mutfwang’s participation showcased Plateau State’s evolving development strategy and its growing role in Nigeria’s national economic conversation.
