Nigeria Targets $1 Trillion GDP by 2030 Amid Investment Surge

Nigeria's Renewed Hope Development Plan (2026–2030) targets a $1 trillion GDP by 2030, aiming to create 21 million jobs and lift 35 million people out of poverty. Current GDP estimates range from $291 billion to $375 billion, necessitating a tripling or quadrupling of the economy within four years.

Dr. Doris Uzoka-Anite, former Minister of State for Finance, indicated that achieving this goal requires sustaining annual GDP growth of 10–12 percent. In the first quarter of 2026, total capital importation into Nigeria reached $10.37 billion, an 83.83 percent increase from $5.64 billion in Q1 2025.

However, 95.09 percent of this capital was portfolio investment, with foreign direct investment contributing only $135.08 million. Adefolarin Olamilekan emphasized the need for Nigeria to harmonize foreign capital with local values to enhance domestic productive capacity, asserting that foreign investment should complement rather than substitute local efforts.