Nigeria Aims for $1 Trillion Economy by 2030

On October 30, 2023, Abubakar Bagudu, the Minister of Budget and Economic Planning, reaffirmed the Nigerian government's commitment to achieving a $1 trillion economy by 2030. He emphasized the importance of strong policy coordination and strategic planning to pursue this ambitious goal.

Bagudu spoke during the reception of Dr. Dori Uzoka-Anite, who resumed her duties as Minister of State for Budget and Economic Planning.

The administration of President Bola Tinubu aims for an annual economic growth rate of seven percent, guided by the upcoming National Development Plan (NDP) for 2026-2030. This plan will focus on economic reforms and investment priorities across the country.

Bagudu highlighted recent discussions at the National Economic Council (NEC) that identified key policy priorities to accelerate national development, including improving coordination among federal, state, and local governments. He also noted the significance of partnerships with international development organizations to support Nigeria's economic growth.