Tinubu Targets 7% Growth By 2027, Orders Review of Deductions By NNPCL, Others

President Bola Tinubu aims for Nigeria to achieve a 1 trillion economy by 2030, requiring a minimum annual growth rate of 7% by 2027. Tinubu emphasized the importance of higher growth as a means to combat poverty, citing an IMF report that endorsed Nigeria's economic trajectory.

He ordered a review of revenue deductions by major agencies like NNPC, FIRS, and NIMASA to boost public savings and enhance spending efficiency. Tinubu's directive, issued during a Federal Executive Council meeting, is part of efforts to sustain economic reforms, restore policy credibility, and attract investors.

He highlighted the Renewed Hope Ward Development Programme as a grassroots empowerment initiative to reduce poverty and stimulate economic activity. The FEC also approved significant proposals to finance infrastructure projects and modernize the national electricity grid.