How we ‘ll achieve $1trn economy Uzoka-Anite

2026-02-25 - 17:27

Emma Ujah, Abuja Bureau Chief The Minister of State for Finance, Dr. Doris Uzoka-Anite, has said that the $1 trillion economy by 2030 target set by President Bola Tinubu cannot be achieved by government efforts alone. Addressing the Annual General Meeting (AGM) of the Finance Correspondents Association of Nigeria (FICAN), today, in Abuja, she said that achieving the target required the confidence of investors and the active participation of the private sector. Her words, “President Tunubu’s $1trillion economy will not be built through the efforts of government alone. It will be built through the confidence of investors who trust our institutions, the productivity of our entrepreneurs who can access capital and markets, the skills of young Nigerians who find opportunities rather than frustration and informed engagement of citizens who understand what their country is trying to do and why.” The minister noted that with Nigeria’s Gross Domestic Product (GDP) currently standing at approximately $375 billion, to reach $1trillion by 2030 was very ambitious but that the government was not afraid of ambitions. In his Good message, the Managing Director of the Nigeria Sovereign Investment Authority (NSIA) Mr. Aminu Umar-Sadiq, revealed that the organisation has grown its capital from $1 billion to $3 billion. The Vice President of the NSIA’s Nigeria Infrastructure Fund, Mr. Abraham Durosawo, who represented the MD said that the organization has undertaken strategic projects such as the Second Niger Bridge, the Lagos-Ibadan Expressway and a section of the Abuja-Kano Highway to facilitate economic growth. He added that the NSIA interventions in the health was effectively addressing capital flight problems as cancer diagnostic and treatment centres were being established in many parts of the country. Mr. Durosawo also disclosed that the organization was massively investing in, as well as, attracting capital to renewable energy projects in parts of the country, which he said was changing the industry’s narrative. In another goodwill message, the Managing Director (MD) of the Nigerian Export-Import Bank (NEXIM) Mr. Abubakar Bello, said the bank empowering Nigerian exporters with a view to increasing foreign exchange earnings, as part of its contribution towards achieving the $1 trillion economy target. He said that the African Continental Free Trade Area (AfCFTA) would play a critical role in that regard, as regional trade now plays a greater role in international trade across the globe. “The $1 trillion economy will be built on regional integration. NEXIM is at the forefront of ensuring that Nigeria not only participates in AfCFTA but also leads it. We are facilitating trade across borders, helping Nigerian businesses navigate new markets from Accra to Cairo, ensuring that our wealth is generated through a robust intra-African trade network. “We recognise that high logistics costs are the ‘silent killers’ of trade. Through our Sealink Project, we are supporting the development of maritime and inland waterway infrastructure. By reducing the cost and time of moving goods, we are making our economy more efficient and more attractive to foreign direct investment.” Contextualising the $1 Trillion Vision The MD added, “The theme you have chosen for this AGM—’ Actualising President Bola Ahmed Tinubu’s $1 Trillion Economy Agenda’—is both timely and audacious. It is a theme that demands we move past ‘business as usual.’ “To reach a $1 trillion Gross Domestic Product (GDP), the math is simple, but the execution is rigorous: Nigeria must diversify. We cannot float a trillion-dollar economy on the back of a single commodity. The cornerstone of this vision lies in the Non-Oil Export Sector.” The Director-general of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, in address, said that despite government commitment the $1 trillion target “cannot be achieved through incrementalism but through robust and structural reform, mobilisation of private sector capital, institutional strengthening and productivity expansion, all of which align with the Bureau’s mandate.” The D-G in the message delivered by Mr. Oduniyi Toibudeen, the Director of Industry and Services, the BPE in 2025 contributed the sum of circa N185 billion to the treasury, with an outlook to raise another ₦189.1 billion for the government from 15 strategic project this year.