Nigeria Targets $1 Trillion Economy by 2030 with Growth

The Federal Government of Nigeria announced that the country is positioned to achieve a $1 trillion economy by 2030, following a second quarter (Q2) real Gross Domestic Product (GDP) growth of 4.43% in 2026, an increase from 3.89% in the previous quarter. This statement was made by the Federal Ministry of Finance after the National Bureau of Statistics released the latest economic growth statistics.

President Bola Tinubu stated that his administration aims to convert macroeconomic stability into microeconomic prosperity, focusing on enhancing food production, job creation, and lowering inflation. The Ooni of Ife, Oba Enitan Adeyeye Ogunwusi, expressed optimism about the government's poverty alleviation programs.

The ministry reported that 27 economic subsectors experienced growth above 3.0% in Q2 2026, with manufacturing growing by 3.24% and agriculture by 4.39%. The naira's appreciation by over 12% contributed to a 17% expansion in the economy in dollar terms, indicating a positive trajectory for Nigeria's economic landscape.