Nigeria Aims for $1 Trillion Economy by 2030

The federal government of Nigeria has declared that the country is well-positioned to achieve its goal of a $1 trillion economy by 2030, inspired by a second quarter (Q2) real Gross Domestic Product (GDP) growth of 4.43%, up from 3.89% in the previous quarter. This announcement was made by the Federal Ministry of Finance following the latest economic statistics released by the National Bureau of Statistics (NBS).

President Bola Tinubu stated that his administration aims to convert macroeconomic stability into microeconomic prosperity, which includes creating more jobs, reducing inflation, and enhancing purchasing power. The Q2 2026 GDP growth marked an increase from 4.23% in Q2 2025 and 3.89% in Q1 2026.

The ministry noted that 27 economic subsectors recorded real growth above 3.0%, indicating broad-based economic expansion. Manufacturing grew by 3.24%, agriculture by 4.39%, and services by 4.60%.

The naira's appreciation by over 12% contributed to an approximate 17% expansion in the economy in U.S. dollar terms.