Budget ministry: Uzoka-Anite resumes, urges 95% private sector drive for $1trn economy

2026-03-16 - 19:26

By Progress Godfrey Dr Doris Uzoka-Anite has resumed duties as Minister of State for Budget and Economic Planning, urging that about 95 percent of the effort required to grow Nigeria into a $1 trillion economy must come from the private sector. Receiving her at the ministry in Abuja on Monday, Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, stressed the need for strong policy coordination and strategic planning to achieve the Federal Government’s economic targets. According to a statement by the ministry, Bagudu said the administration of President Bola Ahmed Tinubu remains committed to expanding Nigeria’s economy to $1 trillion by 2030. He added that the target would be pursued through sustained reforms and disciplined economic planning. The Minister explained that the National Development Plan for 2026 to 2030 would guide economic reforms, investment priorities and development initiatives across the country, to sustain annual economic growth of about 7 percent. Uzoka-Anite, in her remarks, said achieving the $1 trillion economy target would require strong participation from the private sector of up to 95 percent of the country’s economic development while the government contributes the remaining five percent. She also advised that the administration’s Renewed Hope programme should be largely private sector-led in order to deliver the scale of growth required for the country’s economic transformation. According to her, “I have no doubt that Mr President can achieve the one trillion dollar economy as he has started by laying the foundation for that to happen through the introduction of economic reforms and the implementation of the National Development Plan (NDP).” Uzoka-Anite thanked President Bola Ahmed Tinubu for the opportunity to serve in different capacities in his administration, including as Minister of Industry, Trade and Investment, Minister of State for Finance, and now Minister of State for Budget and Economic Planning. Permanent Secretary of the Ministry of Budget and Economic Planning, Dr Deborah Odoh, described the minister’s assumption of office as timely and important for the work of the ministry. She said Uzoka-Anite’s experience in public service, finance and economic management would strengthen the ministry’s efforts to advance the government’s reform agenda and improve the quality of national planning and budgeting in support of the Renewed Hope agenda.