$1 Trillion Economy: FG Targets 10.34% Growth By 2030
• Private sector expected to finance 72% of investment, govt admits infrastructure, productivity challenges • Minister insists economic transformation must translate into jobs, higher incomes, improved living standards Festus Akanbi
The Nigerian federal government has set a target of 10.34% annual economic growth by 2030, as part of its proposed National Development Plan 2026-2030, with the aim of building a $1 trillion economy. The private sector is expected to finance approximately 72% of the cumulative investment needed to achieve this target. Minister of State for Budget and Economic Planning, Dr. Doris Uzoka-Anite, highlighted the plan's focus on infrastructure, productivity, regulatory efficiency, and policy predictability.
However, Nigeria's real GDP growth averaged 3.11% under the 2021-2025 plan, falling short of the 4.65% target. The proposed strategy envisions nominal economic output approaching $1 trillion by 2030, requiring stronger economic indicators to translate into tangible improvements in citizens' welfare.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
