Tinubu’s govt targets $1trn economy by 2030 as GDP growth hits 4.43%

The Nigerian economy grew by 4.43 percent year-on-year in the second quarter of 2026, surpassing the previous quarter's 4.23 percent growth and the first quarter's 3.89 percent. This marks an improvement in real GDP growth for the first half of 2026, reaching 4.16 percent compared to 3.68 percent in the same period of 2025. The growth has become more widespread, with 27 economic sub-sectors expanding at more than three percent in Q2 2026, up from 23 in the same quarter of 2025.

Key sectors like manufacturing, agriculture, and services all saw significant growth: manufacturing increased by 3.24 percent, agriculture expanded by 4.39 percent, and services grew by 4.60 percent. These improvements were partly driven by the naira's relative stability and appreciation, which boosted dollar incomes and purchasing power, potentially lifting millions out of poverty.

The Nigerian government aims to achieve a $1 trillion economy by 2030 and is backed by the International Monetary Fund, which projects Nigeria among the top 10 contributors to global real GDP growth in 2026. Continued macroeconomic stability and sustained growth across productive sectors could accelerate Nigeria's emergence as Africa's largest economy by 2028.