BY NGOZI ONYEAKUSI

Nigeria is targeting average annual real Gross Domestic Product (GDP) growth of 7.79 per cent between 2026 and 2030 as part of efforts to expand the economy towards $1 trillion by 2030.

Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, disclosed this on Thursday at the 2026 International Credit Rating Webinar organised by DataPro Limited, with the theme, “Achieving Investment-Grade Rating by 2030: The Roadmap for Nigeria.”

She said the growth target was outlined in the proposed National Development Plan (NDP) 2026–2030, which seeks to strengthen the country’s economic performance, improve public finances and position Nigeria for investment-grade sovereign credit status by 2030.

According to her, the plan also aims to increase government revenue from 11.15 per cent of GDP in 2025 to 18.70 per cent by 2030, while reducing public debt from 36.07 per cent to 18.83 per cent of GDP.

Uzoka-Anite said achieving the targets would require sustained economic reforms, stronger institutions, improved infrastructure, policy consistency and increased private-sector investment.
She noted that Nigeria’s economy grew by 3.87 per cent in 2025, while the International Monetary Fund projected growth of 4.1 per cent for 2026.
The minister explained that ongoing reforms in fuel subsidies, foreign exchange management and tax administration were designed to restore macroeconomic stability, improve revenue generation and strengthen investor confidence.

She identified agriculture, manufacturing, solid minerals, digital services, energy and logistics as critical sectors for diversifying the economy, increasing productivity and creating employment opportunities.
Uzoka-Anite added that reliable energy supply, effective coordination across government and sustained investment in infrastructure would be essential to achieving the proposed development plan’s objectives.

She stressed that Nigeria’s ambition to attain investment-grade credit status and build a $1 trillion economy must ultimately translate into improved living standards, job creation and inclusive economic growth.